2353 GMT - Origin Energy's shares gain 1.6% after its 1H result beat consensus expectations, shrugging off lower earnings from minority-owned business Octopus. Citi says Origin's A$1.02 billion net profit was 4% ahead of market hopes, while an interim dividend of A$0.30/share was also stronger. "We had a negative outlook into today's result after the cash tax and APLNG guidance came in soft at the quarter," says analyst James Byrne, referring to the Australia Pacific LNG facility. Citi removes its negative outlook, while retaining a buy call on the stock. It says Origin's pared earnings guidance for Octopus reflects heavier investment in technology rather than poor risk management, which had been a concern for some investors. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 12, 2025 18:53 ET (23:53 GMT)
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