Z Energy lifts dividend as Caltex contributes to 22% gain in first-half profit, increased volumes

Wed, 09 Nov 2016

By Jonathan Underhill Nov. 10 (BusinessDesk) - Z Energy raised its first-half dividend as the service station operator posted a 22 percent gain in earnings and a 57 percent jump in fuel volumes following its acquisition of Chevron New Zealand's Caltex and Challenge! brands. Profit rose to $82 million in the six months ended Sep. 30, from $67 million a year earlier, the Wellington-based company said in a statement. Sales climbed to $1.66 billion from $1.3 billion. Last month, Z Energy said it had identified $10 million to $15 million of...

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