AGL today reported a statutory loss after tax of $449 million for the six months ended 31 December 2015. This was $757 million below the prior corresponding period, including changes in the fair value of certain electricity derivatives of $168 million and $656 million after tax of significant items associated with the exit of gas exploration and production assets, and restructuring costs.
AGL’s Underlying Profit of $375 million was up 24.2 percent on the prior corresponding period. AGL advised that FY16 Underlying Profit is expected to be within the upper half of the guidance range of $650 to $720 million, subject to normal trading conditions for the remainder of the year.
AGL has also declared an interim dividend of 32.0 cents per share fully franked, up two cents per share on the prior corresponding period.
Commenting on the interim results, AGL Managing Director, Andy Vesey, said: “The strong performance of our core businesses highlights that we are well positioned to capitalise on the evolution occurring in the energy sector. Part of that evolution is supporting Australia’s transition to a lower carbon generation portfolio and our launch today of the Powering Australian Renewables Fund demonstrates AGL’s commitment."
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