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 a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.