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AGL Energy Limited’s (ASX:AGK) full year net profit has fallen 79 per cent to $115 million. The energy company says its result was impacted by the purchase of Victoria’s Loy Yang power station earlier this year.
AGL expects to achieve solid growth in its merchant energy division throughout the coming year with the additional contribution from Loy Yang.
The company has also foreshadowed ongoing challenges due to continued soft demand for electricity.
AGL has declared a fully franked final dividend of 32 cents per share.
