Energy provider AGL Energy has announced a 51.2 per cent fall in first half net profit to $117 million.

The result includes an after tax loss of $115.9 million from changes in the fair value of the company's financial instruments.

The company's underlying profit of $232.9 million for the half year ended 31 December, 2011, was up 3 per cent on the $226.2 million reported in the prior corresponding period.

AGL also announced it had signed conditional agreements to acquire the remaining 67.5 per cent of the Loy Yang A coal fired power generator.

More to come…

The West Australian

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