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 joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She was a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked as a financial planner and real estate agent.