AGL reconfirms 2006 net profit forecast - Breaking News - Business - Breaking News

The Australian Gas Light Company Ltd (AGL) has reiterated that it is on track to deliver an annual net profit of around $408 million and earnings per share of about 89.5 cents.
The company also reconfirmed that it would pay a 36.5 cents per share fully franked final dividend for the 2005/06 financial year.
Last year AGL posted a net profit of $848.3 million, but the result was boosted by the $587.5 million gain from the sale of its stake in New Zealand gas distributor NGC Holdings Ltd and a tax benefit of $64.8 million.
Net profit excluding significant items was $386.8 million.
AGL is currently in merger discussions with Perth based Alinta Ltd.
© 2006 AAP