News: AGL UPDATE 1-Australia's AGL Energy cuts annual earnings view as outages impact first-half...

(Updates with forecast, dividend, detail on results)

Feb 9 (Reuters) - Australia's AGL Energy Ltd (AGL) on Thursday narrowed the top range of its full-year earnings after it reported a 55% drop in half-year underlying profit, but expects an increase in power generation to boost the second half.

AGL, Australia's top power producer, expects a better second half on the back of a rise in generation, reduction in outages and improvement in customer margins. The company added the outlook beyond fiscal 2023 remains positive.

The power producer expects underlying net profit after tax to be between A$200 million ($138.48 million) and A$280 million for fiscal 2023, compared with prior range of A$200 million and A$320 million. It logged A$225 million last year.

For the six months ended Dec. 31, AGL reported underlying profit after tax attributable of A$87 million ($60.24 million), below A$194 million a year earlier.

On a statutory basis, AGL reported loss attributable of A$1.08 billion compared with a profit of A$555 million last year, having incurred a A$706 million impairment charge from bringing forward the closure of its Loy Yang A coal power station by 10 years.

AGL, which last year was cornered into ditching its demerger plans for accelerated closure of coal-fired power plants, declared an interim dividend of 8.0 Australian cents per share, compared with 16 cents last year. ($1 = 1.4443 Australian dollars)