Origin profit drops on soft energy markets
Updated | Origin Energy has posted a drop in its full-year underlying net profit to $713 million from $760 million a year earlier, missing expectations as soft energy markets have taken their toll.
New-found confidence that Origin Energy is over the worst in its core energy markets business has outweighed disappointment about weak full-year profit due to soft demand and tough competition.
Origin shares jumped the most in 11 months, adding 4.2 per cent to $14.78, despite a 6 per cent dip in underlying profit for 2013-14 to $713 million, short of consensus estimates of $742 million.
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