Operating EBITDA has grown by 14.1% to A$471.3 million. Operating EBIT has also grown 14.9% to A$372.9 million.
AGL’s Merchant Energy business delivered an operating EBIT result of A$238.9 million in the first half of 2007, up 21%, compared to the same period of 2006. AGL’s Retail Energy business has recorded an operating EBIT of A$134.8 million in the first half of 2007, with an EBIT/sales ratio of 6.3%.
Michael Fraser, managing director of AGL, said: These results confirm that AGL has a strong underlying business and is on track to deliver earnings of A$330 million to A$360 million for the full year, in line with previous market guidance. We have also made a number of significant steps in continuing to pursue the company’s integrated energy company strategy. AGL is well positioned to benefit from increasing demand for energy from renewable sources.
