Energy retailer AGL Energy has reaffirmed its annual guidance but warned of squeezed margins from its gas business in fiscal 2017.
AGL says fiscal 2017 margins in its energy markets gas portfolio will be down from the year ended June 30, 2016 by at least $100 million because of higher wholesale prices and higher competition.
The company expects to report underlying profit in the upper half of its guidance range of between $685 million and $720 million for fiscal 2016.
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