Australia's AGL says FY14 NPAT slides 3.9 pct on falling energy demand

SYDNEY Tue Aug 19, 2014 7:00pm EDT

Related Topics

SYDNEY Aug 20 (Reuters) - AGL Energy Ltd, Australia's No. 2 gas and electricity retailer by sales, on Wednesday booked a 3.9 percent fall in underlying annual net profit as it experienced a warmer-than- expected winter and demand for energy fell.

Underlying net profit came in at A$562 million ($522.66 million) for the year to June 30, in line with the guidance it gave last month, compared with A$585 million the previous year. Underlying profit excludes gains from revaluing financial instruments.

AGL also announced an A$1.2 billion renounceable rights issue to help pay for its A$1.5 billion acquisition of two New South Wales state-owned power stations.

(1 US dollar = 1.0753 Australian dollar) (Reporting by Byron Kaye; Editing by Jan Paschal)

FILED UNDER: