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AGL profit soars despite retail challenges

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February 08, 2018

Andy Vesey, CEO of AGL Energy which has nearly doubled its first-half profit.

AGL Energy's half-year profit has nearly doubled to $622 million as the company benefited from high wholesale electricity prices and gains from hedging activities.

The energy producer and retailer said underlying profit for the six months to December 31, which excludes significant items, was up 27 per cent to $493 million, while revenue was up seven per cent to $6.45 billion.

The company will pay a partially-franked interim dividend of 54 cents per share, up 13 cents from a year ago.

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