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Can AGL Energy Weather the Storm After Dramatic Profit Drop?
AGL Energy reported a 15% revenue increase to AU$7.13 billion, surpassing analysts’ expectations. Despite revenue growth, net income plummeted by 83% to AU$97 million, reducing the profit margin from 9.3% to 1.4%. Earnings per share (EPS) fell from AU$0.86 to AU$0.14, missing