AGL Energy (ASX:AGL)
beat expectations for full-year profits, reporting earnings of $1.04 billion, up 2.2 per cent from the previous year.
Net profit for the year ended June 30 fell 42.8 per cent to $905 million on sales that edged up 3.4 per cent to $13.2 billion.
Revenue was up 3.4 per cent to $13.2 billion.
Meanwhile, Infratil (ASX:IFT)
has announced the conditional sale of Perth Energy to AGL.
Infratil expects to receive cash proceeds of approximately $55.0 million for its 80 per cent shareholding.
This is expected to happen before 30th September this year.
Shares in AGL Energy (ASX:AGL)
closed 1.06 per cent higher at $20.00 yesterday.