ELECTRICITY

AGL reports quadrupled profit, boosted by NGC sale

AUSTRALIAN Gas Light Company has reported a net profit of $887.8 million for the six months to December 31, 2004, up from the $205.7 million in the previous corresponding half.

AGL's result was boosted by the net profit impact of $587.5 million related to the sale of NGC.

AGL expects underlying earnings per share growth of 5-7% in 2004/05. The company also announced a $515 million capital return to shareholders.

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