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BUZZ-Centrica: top of FTSE 100 on resilient FY

Reuters - UK Focus

** Centrica (LSE: CNA.L - news) 's shares up 3.2 pct, top of FTSE 100 (NasdaqGS: Z - news) in strong volume

** FY adjusted EPS 17.2p, down 4% YOY as it felt the effects of a steep fall in energy prices, but ahead of Thomson Reuters (Dusseldorf: TOC.DU - news) I/B/E/S (Other OTC: UBGXF - news) estimate of 17.04p

** Divi cut: FY dividend of 12p v 13.5p in 2014 (Jefferies says 12p divi in-line), delivery of progressive future dividend tied to confidence in underlying operating cash flow

** Comes on heels of EDF (Paris: FR0010242511 - news) cutting its dividend and RWE (Other OTC: RWNEF - news) scrapping its dividend

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** Centrica expects adjusted operating cash flow to exceed £2 bln again this yr (v £2.3 bln in 2015)

** Jefferies repeats "buy", flags strong operating cash flow generation; says key takeaway is dividend will remain covered by operating cash flow even at current low commodity prices

** Most actively traded stock on FTSE 100, with two thirds of 90-day daily avg through in 1.5 hours (RM:venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.n et RM:tricia.wright1.thomsonreuters.com@reuters.net)