The West

AGL sees its full-year profit up 10pc.
AGL sees its full-year profit up 10pc.

AGL says it is aiming for a rise in underlying profit of up to 10.8 per cent in 2009/10, after making a solid start to the year.

Managing director Michael Fraser announced guidance of $390 million to $420 million in underlying net profit for the year.

That would compare to an underlying profit of $379 million in the previous year.

He said the group had made a "solid" start to the year despite warm winters in key markets.

There was modest growth in customer numbers and the electricity hedge book was continuing to perform well, he added, according to a slide pack lodged with the stock exchange.

"Sales volumes across all markets impacted by very warm July/September," one slide said, accounting for an impact on net profit of about $5 million to $10 million.

The West Australian

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