Energy supplier AGL Energy Ltd. reported a 22 per cent jump in first half underlying profit and reported to stick to its full year guidance. However, it speculates a weaker second half.

AGL posted an underlying net profit for the six months to December 31 as $234.8 million compared from $192.5 million in the same period last year.

Also, its statutory net profit for the first half registered was $183.7 million, reduced from 89 per cent from the previous corresponding period in which $1.46 billion was gained from asset sales.

The company was in a bid to fulfil its full year guidance of underlying net profit of $390 million to $420 million, revealed Mr. Fraser.

"If you look at the merchant business over the last couple of years it has had the benefit of fairly significant extended hot periods, in South Australia in particular and also in Victoria", he said.

The company said on Friday announced that though it had initiated a cut down on capital expenditure on wind farms because of deficiencies in the federal government's renewable energy target scheme, it honoured the alterations that would now support in promote investment in the sector.