Caltex's AA smartfuel deal to cost Z Energy $5 million

Mon, 25 Jul 2016

By Edwin Mitson July 25 (BusinessDesk) - Z Energy, which is completing the integration of the Caltex fuel stations and Challenge! brand, has warned investors that it expects earnings to be $5 million lower due to Caltex's deal with AA Smartfuel. In a statement published to the NZX, Z Energy said that after it had completed due diligence but before the sale was completed, "Caltex renewed its AA Smartfuel contract." Details of the contract aren't being disclosed, but it will hit profit between calendar 2015 and 2016. Z says that it rem...

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