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Origin barely scrapes a profit amid soft power prices

Angela Macdonald-Smith

Key Points

  • Revenue ($m): 6068, down 9.8pc on year-earlier 6728
  • Pre-tax profit ($m): 85 v 697
  • Net profit ($m): 13 v 599
  • Interim dividend: 12.5c, payable March 26

Origin Energy has warned of more “challenging” times ahead for its core energy markets business after a combination of lower commodity prices and higher costs meant it barely scraped a profit in the first half

Bottom line earnings dived 98 per cent dive to $13 million in the six months to December 31, while underlying earnings - the figure more closely watched by the market - more than halved to $224 million.

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Angela Macdonald-Smith writes on the resources industry with a focus on energy, including gas, oil, electricity and renewables. Connect with Angela on Twitter. Email Angela at amacdonald-smith@afr.com

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    Original URL: https://www.afr.com/companies/energy/origin-barely-scrapes-a-profit-amid-soft-power-prices-20210217-p573fx