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.