Takeover target Origin Energy has posted a sharp decline in half-year underlying profit, weighed down by lower earnings in its energy markets business and a higher tax expense.
Australia's top electricity and gas retailer reported a statutory net profit of $399 million for the six months to December 31, compared to a $131 million loss a year earlier.
However, underlying profit for the half year slumped more than 80 per cent to $44 million.
