AGL reported a 3.7% rise in underlying profits of $389 million to December 31st. This figure was inline with analysts’ forecasts.
However, shares of the energy retailer jumped to an all-time high of $24.05 at today’s open as company officials gave positive guidance into 2017 as retail power prices are expected to climb higher.
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AGL said its full year underlying profit would reach the upper half of its forecast range of $720 to $800 million, up from $700 million last year.
The company also raised its half year dividend to 41 cents per share from 32 cents per share last year.
