Origin widens H1 loss on $1.4bn impairment

Oil and gas major Origin Energy has widened its pre-tax loss to $1.6-billion for the six months to December 31, compared with a loss of $154-million in the previous corresponding period, after incurring a $1.4-billion impairment. Revenue for the half-year increased to $6-billion, from the $5.6-billion reported in the prior comparable period, while underlying earnings before interest, taxes, depreciation and amortisation (Ebitda) increased by 32%, to $1.15-billion, reflecting the solid operating performance of the business.