AWE swings to full-year profit

Energy business will keep developing projects at home and overseas.

AWE (AWE) will continue to pursue projects locally and in Indonesia and New Zealand but warned of commodity price risk after swinging to a full-year profit.

The group's profit attributable to members was $20 million in fiscal 2013, compared with a net loss of $66.5 million the prior year.

However, underlying profit came in at $17.1 million for the full year, behind consensus forecasts for around $28.2 million.

Revenue rose 1% to $301.8 million, compared with $298 million in the previous corresponding period.

The group declined to pay a dividend.

AWE's share price fell 2.2% to $1.32 at 1043 AEST.

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