Origin shares lift after improved outlook for FY18

Company News

by Jessica Amir

Origin Energy (ASX:ORG) reported a statutory loss of $207 million in the six months ending December, driven by impairment or write-down of $533 million after tax.

Despite this, its underlying profit rose by $255 million to $428 million driven by earnings growth in the energy markets and Australia Pacific LNG.

And its underlying earnings or EBITDA from continuing operations increased $502 million, or 51 per cent, to $1.5 billion.

Operating cashflow firmed higher by 43 per cent to $552 million, with Origin receiving net cash flows for Australia Pacific LNG of $116 million. Because of this, the company is eyeing an improved full financial year. 

Shares in Origin Energy are trading 3.61 per cent higher at $8.61.
   

Jessica Amir

Finance News Network
Jessica is the head of news and a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.