AGL Energy Limited (AGK) said underlying NPAT for 1H09 had risen 5.3% to $193 million. The company said the second-half would be business as usual and that it would continue to expand its renewable energy portfolio.

Other areas of focus for the rest of the calendar year included exploring and developing the company's gas acreage and reserves and gas generation portfolio.

In a separate announcement, AGL said it had acquired a relevant interest in over 96% of shares in Sydney Gas Limited (SGL) and that it intended to compulsory acquire the remaining stock.

Returning to earnings, the company said its first-half results came in at guidance and it saw no reason to change their prior announced full-year forecasts for a net profit of $370 million-$400 million.

AGL said its bottom line had been boosted by higher gas prices and a strong performance from the company's merchant energy business.

Managing director Michael Fraser said business was progressing well, as evidenced by the solid results.

"It's pleasing that we have been able to deliver a strong set of results for the half-year, confirming that we are on track to meet our upgraded full-year guidance," he said.

"The business is performing well, we have strengthened our balance sheet and we are continuing to implement our integrated energy company strategy."

Revenue rose 5.1% to $3 billion, while operating EBIT from continuing operations was at $322.7 million, up 10.2%.

The board of AGL Energy said it would issue a fully franked interim dividend of 26c per share, unchanged from last year.

AGL Energy closed on Tuesday at $13.41, up 26c.