Embattled AGL Energy’s bottom line bounced back into the black but underlying profit plunged 58.1 per cent amid plant outages and spiking wholesale prices.
Embattled electricity and gas retailer AGL Energy has posted a turnaround in bottom-line profit for the full year but underlying profit plunged 58.1 per cent amid coal power plant outages and spiking wholesale prices.
AGL, which was forced to scrap a long-planned demerger in late May amid shareholder opposition led by Mr Cannon-Brookes, is still carrying out a review of its strategy that was initiated after the plan to split off the coal power generation assets failed. The results of that review are not due until September.
AGL said on Friday the review is “actively considering multiple options for how an integrated AGL can deliver long-term value for shareholders”.
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