Origin Energy shares hit five-year lows

SHARES in Origin Energy were pushed to five-year lows in early trading on a profit warning issued Thursday night, which flags flat earnings in the year ahead, snapping a steady run of double-digit earnings growth.

Origin has warned that earnings before interest, tax, depreciation and amortisation in the year to June, 2013, would rise by between zero and 5 per cent year on year, compared with earlier guidance of a 5-10 per cent rise.

The net profit after tax is now expected to be flat, year on year.

It blamed a $40 million hit from the cost of renewable energy certificates which it cannot recover for the flat profit outlook.

Usually, the company is able to recover that cost in future years in NSW, but not in Queensland. Origin is the largest electricity supplier to the two markets.

 

Read more at Brisbane Times


Dedicated owner keeps car in pristine condition

Dedicated owner keeps car in pristine condition

The car is a fixture of the family and something to bond over.

Community to celebrate the long haul

Community to celebrate the long haul

Committee members are calling all to come and celebrate 70 years.

Miss Show Girl enjoys bringing people together

Miss Show Girl enjoys bringing people together

Get to know Bridget Webster.

Local Partners