August 8, 2018 / 10:47 PM / 3 months ago

Australia's AGL Energy full-year profit soars on robust power prices

Aug 9 (Reuters) - AGL Energy, Australia’s biggest power producer, on Thursday reported a 27.6 percent rise in its full-year underlying profit, bolstered by soaring power prices.

Underlying profit for the 12 months ended June 30 rose to A$1.02 billion ($757.76 million) from A$802 million a year ago, beating forecasts of around A$995.2 million, according to Thomson Reuters I/B/E/S.

The company raised its full-year dividend to A$1.17 from A$0.91 a year ago. Analysts had expected a full-year dividend of A$1.12.

$1 = 1.3461 Australian dollars Reporting by Rushil Dutta in Bengaluru; Editing by Richard Chang

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