Energy producer AGL: increased profits on revenue fall

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Energy producer AGL: increased profits on revenue fall

Postby Squire » 09 Feb 2019, 13:34

Profit rose 10% on revenue that fell 1.8% which implies 11.8% increase in profitability.

This portends a tripling of energy prices every ten years to give shareholders their expected 11.8% dividend and share price growth rate.

Unfortunately for the poor, wages do not grow at that rate and this will be one of the factors in increasing poverty.

https://uk.reuters.com/article/agl-energy-results/update-2-australias-agl-energy-reports-profit-jump-but-coal-plant-costs-to-rise-idUKL3N2013XV

...AGL’s underlying profit for the six months to Dec. 31, which excludes one-off items, rose to A$537 million from A$487 million at the same time last year, boosted by strong wholesale power prices.

AGL said it was on track to hit the midpoint of its forecast range for underlying profit of between A$970 million and A$1.07 billion in the year to June, roughly flat on last year.

Revenue slipped 1.8 percent to A$6.34 billion. ...
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