Australia's AGL Energy hits 1-year high on upbeat results, forecast

AGL Energy

14/08/2024 01:59

** Shares of power retailer AGL Energy  AGL.AX  rise as much
as 5.3% to A$11.38, their highest level since August 2023
    ** Co reports a nearly three-fold jump in fiscal 2024
profit, boosted by higher wholesale prices, improved fleet
availability
    ** Forecasts underlying profit between A$530 mln ($351.66
mln) and A$730 mln for FY25
    ** Midpoint of forecast range ahead of Visible Alpha
consensus estimate of A$619 mln
    ** Stock among top gainers on ASX 200 benchmark index
    ** As of last close, stock up 14% YTD    

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))