Origin Energy underlying profit plunges 41%

Company News

by David Chau

Origin Energy Ltd (ASX:ORG) has announced its underlying profit was down 41% to $354 million in FY16.

The energy company says it had a strong operational performance from its Markets business, and liquefied natural gas production. But this was more than offset by the impact of “lower oil prices”.

The company also reported a statutory loss of $589 million, which it says is a 10% improvement over last financial year’s result (in which the company’s loss was $658 million).
As for final dividends in FY16, Origin won’t be paying any. In contrast, Origin paid 25 cps as a final dividends for FY15.
 

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