Channel ups guidance on improving outlook

Former oil refiner benefits from cost indexation fees. Image: Getty)

Wed, 23 Aug 2023

Channel Infrastructure reported increased profit and forecast higher earnings and dividends as it released its results for the six months ended 30 June 2023.The former oil refiner-turned-fuel infrastructure business, said revenue from continuing operations was $64.4 million, up 10% from $58.4m in the second half of financial year 2022. This reflected the benefit of the producer price indexation of terminal services contracts, increased private storage fees (as more capacity was commissioned) and higher ancillary charges.It also now expects to r...

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