Aust Business Headlines, (ASX: FGL), (ASX: AGK), (ASX: TVL)Monday October 15 11:15 AMAustralia's largest energy retailer, AGL Energy has cut its 2008 profit forecast by as much as 13 per cent due to higher costs and lower margins. The company expects the net profit earnings to be between $330-$360 million, down from its earlier forecast. The revision has been caused by factors like reduced retail energy margins, a strengthening Aussie dollar and increased wholesale gas costs. The company says dividends for 2008 won't be affected and will remain in the range of 52-55 cents per share. AGL Energy's best profit result of the past five years was in 2005. And just briefly, Daniel Petre has resigned as a director of travel.com.au. TVL has told the stock exchange Mr Petre notified the company of his resignation on Friday. It comes as TVL is engaged in a three-way tussle with internet travel sites wotif.com Holdings and webjet, both of which have made takeover bids for the company. TVL has been in the red since 2003. The full report is available at the following video and audio links. Video Link http://abnnewswire.net/fnnlnk/8FIH9WJ1 Audio Link http://abnnewswire.net/lnk/XD6K9313 Source: Finance News Network © 2007 http://www.finnewsnetwork.com.au About Finance News Network Finance News Network (FNN) has been producing up-to-date concise business and finance news tailored to traders and investors alike since 2002. FNN content reaches a diverse and constantly growing audience via online streaming video, Street Vision broadcasts and the Telstra 3G mobile phone network. http://www.finnewsnetwork.com.au Source: ABN http://www.ABNnewswire.net Copyright (C) 2007 ABN Newswire. All rights reserved. |
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