10 January 2012
AGL Energy Limited (AGL) will amend the basis for segmental analysis reporting commencing with the 2012 interim results to be released on 24 February 2012. Accounting Standard AASB 8 requires companies to report segmental information on a similar basis as is used internally by management for reviewing operating segment performance.
There is no change to the reported profit in any prior periods, only a reallocation between business units.
The two main changes are:
> Business Customers (formerly Commercial and Industrial) transferred to Merchant Energy, previously reported in Retail Energy; and
> Some administration costs (mainly finance and IT) now reported in centrally managed expenses, previously reported in the business units. The historical segment data in Appendix 1 is provided to facilitate comparisons with performance in prior periods.Click here to view the full release with Appendix 1 - Segmental Analysis Restatement.
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