AGL reports record profit

Company News

by Jessica Amir

AGL Energy (ASX:AGL) has reported stellar results and a record profit for the 2017 financial year

It announced its statutory profit after tax attributable to shareholders rebounded to $539 million, up from FY2016’s loss of $408 million.

It comes as the business hit its target of about $1 billion in asset sales of non-core or underperforming assets.

The energy company’s statutory EBIT also rebounded to $988 million in FY17, up from the negative EBIT of $256 million in FY16.

AGL’s revenue for the financial year ending 30 June 2017 rose to $12.6 billion.

The company’s final dividend also firmed to $0.50 with $0.40 being franked.

Shares in AGL Energy (ASX:AGL) last traded 0.04 per cent lower yesterday to $24.99.

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.