CIO

AGL forecasts NPAT of $420m for FY10

AGL Energy Limited (ASX:AGK) has projected it will improve its post-tax profit up to 7.6% to $420 million in FY10.

But its profit will be reduced by an estimated $5-10 million due to the unseasonal warmth of the most recent Winter season, AGL predicted.

AGL lifted its underlying profit 11% in FY09 to $378.8 million. Revenue, meanwhile, rose 6.1% to $5.99 billion.

The company said it will focus its efforts this financial year on renewing its renewables portfolio, improving customer experience and pursuing a participation in any efforts by NSW to privatize its electricity.