Redman picks up axe as AGL swings into loss

AGL Energy boss Brett Redman will hack $250 million from spending over the next two years after posting a $2.29 billion net loss for the first half the financial year.

Redman picks up axe as AGL swings into loss Redman picks up axe as AGL swings into loss Redman picks up axe as AGL swings into loss Redman picks up axe as AGL swings into loss Redman picks up axe as AGL swings into loss

In its results on Thursday, AGL realised $2.86 billion of impairments (post tax) as margins in the wholesale electricity market dried up and onerous wind offtake contracts failed to deliver.