News: ORG UPDATE 1-Australia's Origin logs annual profit jump on energy markets boost

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Aug 15 (Reuters) - Australia's Origin Energy (ORG) reported a 58% rise in its annual underlying profit on Thursday, boosted by higher earnings from its Energy Markets, LNG trading and other integrated gas businesses.

A surge in electricity generation from Origin's Eraring coal-fired power plant, the country's largest, along with a temporary cap on coal prices that have kept costs down, helped the company meet rising domestic demand at elevated wholesale prices.

That boosted underlying profit at Australia's second-largest power producer to A$1.18 billion ($778.33 million) for the full year ended June 30, higher than A$747 million reported a year ago. It slightly missed an LSEG estimate of A$1.34 billion.

Underlying earnings before interest, taxes, depreciation, and amortization forecast for Energy Markets, its main operating unit, is forecast between A$1.1 billion and A$1.4 billion for fiscal 2025, the company said.

Sydney-based Origin, which has a 23% stake in Octopus, the UK's second-largest energy supplier, declared a final dividend of 27.5 Australian cents per share, compared with 20 Australian cents a year earlier.

($1 = 1.5158 Australian dollars)