Origin profit jumps 20pc

Origin Energy is looking for underlying earnings growth of about 15 per cent this year, after reporting a 20 per cent rise in 2008/09.

Underlying net profit, excluding one off items, rose to A$530 million from A$443 million in the year ended June 30.

Its bottom net profit result was a massive A$6.941 billion, after the inclusion of a A$6.7 billion gain related to the investment by ConocoPhillips in the pair's Australia Pacific LNG joint venture.

Origin, which has a 51 per cent stake in Contact Energy, closed down A30c at A$14.70.