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 presents the Market Outlook and company news. She joined FNN in January 2017. She has been in broadcast journalism for over five years. She has worked as a journalist with Sky News Business, ABC 1 and ABC24. She has also worked in regional Australia for Prime 7 and WIN News. She is also a qualified financial planner and a Masters of Applied Finance student.