Gull acquisition beating expectations for Caltex Australia

Tue, 26 Feb 2019

By Paul McBeth Feb. 26 (BusinessDesk) - Discount fuel retailer Gull New Zealand beat expectations for its new owner, Caltex Australia, as it contributed to a more than doubling in annual earnings for the ASX-listed group's international units. Caltex Australia, which no longer has any ties with Texan giant Chevron, bought Gull in 2017 for $340 million and had its first annual contribution from the Kiwi challenger petrol brand. The group generated revenue of A$559.1 million from New Zealand in calendar 2018, up from A$203.5 million a y...

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