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.