The bottom line for Origin Energy swung back to a profit of more than $1 billion after the previous year’s heavy loss.
Why it matters: Origin is one of the country’s biggest energy providers and is the target of an $18.7 billion takeover.The company declared a final dividend of 20¢ a share, up from 16.5¢ a year earlier.
Underlying net profit for Origin, the subject of an $18.7 billion takeover proposal led by Canada’s Brookfield, rose to $747 million for the year ended June 30, higher than some analysts were forecasting. The figure was up from $407 million a year earlier.Origin declared a final dividend of 20¢ a share, up from 16.5¢ a year earlier.
For the coming year, Origin said energy markets EBITDA would increase to between $1.3 billion and $1.7 billion, excluding Octopus, where earnings would be lower due to stronger retail competition. APLNG production is expected to be between 680 and 710 petajoules.
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