Origin’s profits fall following massive impairment

February 15, 2017

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Oil and gas major Origin Energy has reported a loss before tax of $1.6-billion in the half-year ended December, compared with a loss of $154-million in the previous corresponding period, after reporting an impairment of $1.4-billion.

Revenue for the half-year increased from the $5.6-billion reported in the first half of 2015 to just over $6-billion, while underlying earnings before interest, tax, depreciation and amortization (Ebitda) increased by 32%, to $1.15-billion, reflecting the solid operating performance of the business.

Category: General