Origin Energy Limited
(ASX:ORG) has booked a full year net profit of $378 million, down from $980 million last year.
Net profit fell by about 60 per cent after losses incurred by the movement of fair value instruments, increased expenditure on retail transformation and transition costs relating to the acquired NSW energy assets.
Underlying profit came in at $760 million, down 15 per cent on the previous year.
Managing director Grant King says Origin will focus on its key priorities in fiscal 2014 including improving the performance of its existing business and delivering the Australia Pacific LNG project.
Origin will pay a final unfranked dividend of 25 cents, taking the full year dividend to 50 cents per share.
