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Australia Origin Q3 output down 8 pct on asset sale

Wed Apr 29, 2009 11:01pm EDT

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PERTH, April 30 (Reuters) - Australia's Origin Energy Ltd (ORG.AX), the country's second-largest power retailer, posted an 8 percent fall in its third-quarter output from a year ago due to the recent sale of part of its coal seam gas assets.

Total production in the three months ended March 31 was 21.8 petajoules equivalent (PJE), compared with 23.6 PJE a year ago, Origin said in a statement, on Thursday.

Its year-to-date production of 79.4 PJE is 12 percent higher than last year, Origin said.

Origin, which has not given a production forecast for its current financial year, cut its full-year underlying profit growth forecast in February to 20-25 percent, compared with its earlier guidance of a 30-40 percent lift. (Reporting by Fayen Wong)



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