Energy generator and retailer AGL has reported a near trebling of full year profit, a result supported by higher power prices and favourable hedging contracts.
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| AGL's generating portfolio has benefitted from the closure of competing generators. |
AGL's 2018 net profit of $1.6 billion rose 194 per cent from the previous year of $539 million.
Its underlying profit, which excludes one-off items and changes in value in investments and hedging positions, rose 28 per cent to $1.02 billion, at the upper end of the company's guidance.
Read the story from ABC News by Stephen Letts - “AGL full year profit almost trebles on higher electricity prices.”
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