AGL Energy Limited (AGL) today reported an Underlying Profit of $232.9 million for the half year ended 31 December 2011, an increase of 3 per cent on the $226.2 million reported in the prior corresponding period.
Strong earnings growth from AGL's core Retail and Merchant businesses were partly offset by lower wind farm development and gas storage fee income.
Underlying profit is the statutory net profit after tax adjusted for significant items and changes in the fair value of financial instruments. AGL's statutory net profit after tax was $117.0 million.
Customer accounts increased by 100,000, including 89,000 new electricity customers in New South Wales.
The interim dividend has been maintained at 29 cents per share, and will be fully franked.
AGL remains on track to deliver full year results in line with previous guidance for Underlying profit of between $470 million and $500 million.
A webcast and conference call will be held today to discuss AGL's 2012 interim profit result.
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AGL is one of Australia's leading integrated renewable energy companies and is taking action toward creating a sustainable energy future for our investors, communities and customers. Drawing on 175 years of experience, AGL operates retail and merchant energy businesses, power generation assets and an upstream gas portfolio. AGL has one of Australia's largest retail energy and dual fuel customer bases. AGL has a diverse power generation portfolio including base, peaking and intermediate generation plants, spread across traditional thermal generation as well as renewable sources including hydro, wind, landfill gas and biomass. AGL is Australia's largest private owner and operator of renewable energy assets and is looking to further expand this position by exploring a suite of low emission and renewable energy generation development opportunities.