UPDATE: NZ Refining shares climb to 22-month high as margins improve

Mon, 19 Jan 2015

(Updates with share price movement, fund manager comment throughout) By Paul McBeth and Suze Metherell Jan. 20 (BusinessDesk) - Shares of New Zealand Refining climbed to a 22-month high after the Marsden Point refinery operator flagged a return to annual profit in 2014 after widening margins, cheaper crude oil and a favourable exchange rate turned around the company's performance from the middle of the year. The Whangarei-based company said net profit was between $9.5 million and $10.5 million in calendar 2014, turning around a loss of...

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