Business
AGL posts $2.29b first-half loss due to write-downs – The Australian Financial Review
The country’s biggest electricity and gas retailer will cut spending and costs in response to wholesale power prices that have fallen more quickly than anticipated…
Underlying profit, which excludes the one-off items, fell 26.6 per cent in the six months ended December 31 to $317 million, amid wholesale power prices that are at six-year lows and higher costs.
While AGL retained its full-year guidance for underlying profit, that was only possible as it includes up to $100 million of insurance proceeds from a unit outage at the Loy Yang coal power plant in Victoria last financial year.
The underlying profit was 17 per cent below the estimate of JPMorgan, where…
-
Noosa News18 hours agoTallest tower outside CBD approved for construction at 205 metres
-
Noosa News5 hours agoJessica Alba spotted filming spy thriller on the Gold Coast as cameras roll under iconic bridge
-
Noosa News23 hours agoTrucking company penalised for refusing to pay unfairly sacked worker
-
Noosa News19 hours agoFarmgate Backpackers leads with integrity amid industry challenges