Z Energy forecasts halving of first-half earnings

Wed, 22 Jul 2020

Z Energy has warned its first-half operating earnings may be half those a year ago amid low refining margins and tough retail discounting. The country’s largest fuel retailer today reported $38 million of earnings before interest, tax, depreciation, amortisation and changes in financial instruments in the three months ended June 30. That figure, calculated on a recurring cost basis, contrasts with the $95 million the company earned in the same period a year earlier and included an $11 million loss for the month of April when the country w...

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