AGL records 22% drop in profit

AGL Energy took a significant full-year hit from the Black Summer bushfires and then the COVID-19 pandemic but says energy supply remains “resilient” and results in line with guidance provided at the beginning of 2020.

AGL records 22% drop in profit AGL records 22% drop in profit AGL records 22% drop in profit AGL records 22% drop in profit AGL records 22% drop in profit

Company still confident of big plans

Underlying EBITDA came to just over A$2 billion, down 9%, while underlying profit after tax was down 22% at $816 million compared to last financial year.

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