Australia's Origin Energy underlying profit dips on weaker power sales

SYDNEY Wed Aug 20, 2014 7:48pm EDT

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SYDNEY Aug 21 (Reuters) - Origin Energy Ltd, Australia's biggest energy retailer by sales, reported a 6 percent fall in underlying annual profit on Thursday, missing analysts' expectations as its energy markets business struggled with weaker sales.

Underlying profit was A$713 million ($662 million) for the year to June 30, from A$760 million the previous year. Analysts polled by Thomson Reuters I/B/E/S forecast an average annual underlying profit of A$742.7 million. Net profit rose 40 pct to A$530 million. (1 US dollar = 1.0770 Australian dollar) (Reporting by Byron Kaye and Lincoln Feast; Editing by Stephen Coates)