Tag: AGL

AGL has lopped its interim dividend by 15% after a slide in half-year profit caused by the outage of a major generator at a Victorian power station late last year.

While AGL modestly beat expectations for full-year earnings in 2018-19, the outlook for the new financial year failed to enthuse, even though the company warned of the biggest problem – a $100 million-plus cost at a Victorian power station – months ago.

AGL Energy has surprised the market with a late revelation on Friday evening that a fault and surprise shutdown of a key generating unit at its most important Victorian power station means next financial year’s profit will be lower than previously expected.

Shares in energy group fell nearly 5% yesterday after the group released a less than stellar half year profit. While the headlines said AGL’s profit climbed to more than half a billion dollars in the December half, the reality was a bottom line that slumped 52.9%.

AGL Energy boosted profit by around 300% according to one measure in the year to June and has started looking for a replacement CEO to allow for an orderly succession when the incumbent Andy Vesey calls it a day.

AGL has rejected Chinese-owned Alinta’s $250 million offer to buy the Liddell coal-fired power station in NSW and will proceed with its announced plan to shut down the station in 2022.

While energy producer and retailer AGL Energy says it is on track to deliver a full-year underlying profit of close to $1 billion after revealing a surge in first half earnings and a 32% boost to interim dividend, investors were spooked by the company’s less than enthusiastic outlook for the rest of the financial year.

Bullying the management of AGL Energy by Prime Minister Turnbull and his government has blown up in his face with yesterday’s annual meeting in Sydney being told AGL has no intention of changing course and keeping the ageing and inefficient Liddell coal fired power station in the Hunter Valley region of NSW open beyond its scheduled closure in 2022.

AGL Energy revealed a sharp rebound in earnings for 2016-17 yesterday, forecast more of the same this financial year and shareholders are going to be showered with loot.

Nothing like a bit of global warming to get the energy utilities’ revenue rising and profits growing.

AGL shares surged more than 7% yesterday after the 2015-16 annual meeting was told of a surprise near $600 million buyback, dividend lift and surprise earnings upgrade – all of which was aimed at halting a recent slide in the share price.

Energy utility, AGL has lifted dividend 6% to a full year payout of 68 cents a share (from 64 cents in 2014-15) with a final of 36 cents after yesterday reporting a higher underlying net profit for the year to June.

AGL shares dipped 3% to $19.69 yesterday after the company revealed higher costs from wholesale gas purchases in recent months. But the company said the extra cost would be taken in the 2016-17 financial year and would not impact its guidance for the 2015-16 financial year.

AGL Energy (AGL) shares held up well yesterday after the company issued a surprise warning of a cut to 2015-16 profit because of problems at its Liddell coal-fired power station in the Hunter Valley region of NSW.

Anti-fracking protestors will no doubt claim victory, but AGL’s decision, announced yesterday, to withdraw from fracking and coal seam gas extraction was more down to the slide in world oil and gas prices and weak results from the Gloucester project in NSW in particular.

Shares in energy group, AGL had a mixed day yesterday thanks to the 2014-15 annual meeting, especially after comments on capital management and an updated earnings guidance for 2015-16.

In late May, AGL Energy (AGL) revealed plans to sell $1 billion in assets and cut more than $400 million in costs by redirecting the company away from traditional fossil fuels and towards renewables.

Shares in AGL Energy (AGK) jumped sharply yesterday after the new CEO revealed the results of a review of the company – with around $1 billion in asset sales on a wishlist and $200 million in cost cuts by 2017.

AGL Energy (AGK) disappointed the market yesterday with profit forecast which verged on spin.

Energy group AGL (AGK) has warned shareholders not to expect a big rise in earnings for the current financial year.

Australia will get its largest solar venture after AGL Energy (AGK) announced yesterday that it will proceed with two projects in western NSW, costing a total of $450 million.

A day after revealing a solid inter profit, AFL Energy has revealed plans to go deeper into wind energy.

Shares in AGL Energy (AGK) rose as much as 5.5% to $11.35 today after the electricity and gas supplier said it is selling its 100% owned Chilean gas distribution business GasValpo, ending its 12-year presence in the South American market.

The company that surprised everyone, even its own management, when it downgraded its full year earnings guidance in October, has confirmed it is on track to meet revised full year guidance after releasing its half year results today.

AGL (AGK) announced today that it plans to build another wind farm at Hallett Hill in South Australia which will be in operation by November 2009.

AGL Energy (AGK) rose by as much as 8% today after the large Australian energy company said it is selling its 33% interest in West Australian gas retailer AlintaAGL to Babcock & Brown Power's Alinta for $522 million.

Less than a week after shocking the market with a profit downgrade, the board of AGL Energy (AGK) has done the right thing and got rid of CEO, Paul Anthony, who promised much but delivered little.