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 joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.