AGL Energy Ltd
(ASX:AGL) reported that its statutory profit after tax surged by $774 million on the back of higher electricity prices.
In the first half of the current financial year, its statutory profit totalled $325 million.
This is an improvement over the first half result in the 2016 FY – a net loss of $449 million.
Its underlying half-year profit rose marginally, by 4% , to $389 million. Australia's second largest energy and gas retailer is expecting its full year underlying profit to be at the upper range of its forecast (which is up to $800 million).
AGL has lifted its interim dividend to 41 cents per share (which is a 9 cent increase over the previous interim dividend).
