CORRECT Z Energy sales slide on margin push, operating earnings up

Thu, 02 May 2013

(corrects pars 6 and 7, where guidance figures in original were wrongly interpreted as being forward-looking) May 3 (BusinessDesk) - Z Energy's second full year of operation since its sale to local investors by Shell has produced a 13.1 percent lift in operating earnings, although sales have fallen as the transport fuels distributor cut out loss-making contracts and faced severe competition on petrol station forecourts. Earnings before interest, tax, depreciation, amortisation and changes in the value of financial instruments came in at $195...

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