AGL Energy interim net profit drops to $290 million

Company News

by Rachael Jones

AGL (ASX:AGL) have shown a net profit for the six months ended December 31 to $537 million, a 10 per cent rise from $487 million in the last corresponding period.

Higher electricity prices helped in the rise.

This was just under Citi's predictions of $567 million.

Statutory profit dropped 53 per cent to $290 million because of a reduction in the value of electricity derivatives.

Its guidance for the full year has been left unchanged in the run up to the election.

They are paying a dividend per share of 55 cents up from 54 cents in the last corresponding period.

Shares in AGL (ASX:AGL) Share trading 2.53 per cent lower at $21.60. 
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.