Origin Energy reports growth in half year revenue and production

Company News

by Kathy Skantzos

Electricity and gas company Origin Energy (ASX:ORG) has reported a 40 per cent increase in revenue and a 12 per cent increase in production for the half year to December 2017.

Sales revenue for the half year boosted by $391 million to $1.37 billion, due to an increase in LNG sales and higher average prices across all products.

Revenue for the December quarter increased $8 million compared to the previous quarter, to $686 million.

Despite a drop in quarterly production due to lower customer demand and planned maintenance, half yearly production increased, driven by an increase in output from Australia Pacific LNG.

Origin is scheduled to complete a $1.6 billion sale of Lattice Energy to Beach Energy (ASX:BPT) today.

Shares in Origin Energy (ASX:ORG) are trading 1.82 per cent lower at $9.18.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.