Fuel sector earnings 'materially different' from ComCom view - Z

Thu, 05 Dec 2019

The Commerce Commission’s views on profitability in the retail fuel sector would be “materially different” if they had looked at current earnings, Z Energy chief executive Mike Bennetts says.Margins in the industry have fallen materially from even a year ago and the picture today is much different from the 2016 to 2018 period the commission used for its just-published study into the fuel market, Bennetts said.The drop in the firm’s returns in the six months ended Sept. 30, down to about 7 percent from 11 percent in recent years, was not unique...

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