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AAP
AAP
Savannah Meacham

Energy retailer profits slump, looks to renewables

AGL Damien Nicks Coal Electricity
AGL has posted a statutory loss of $98 million. (Joel Carrett/AAP PHOTOS)

A major energy retailer has posted a record slump in profits but is looking to turn things around with an investment in renewable energy.

AGL announced its full-year financial earnings on Wednesday, revealing a 21 per cent drop to $640 million underlying net profit after tax compared to the previous year's $812 million.

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