Z Energy lifts profit 8% as government questions petrol pricing

Wed, 02 May 2018

By Sophie Boot May 3 (BusinessDesk) - Z Energy delivered annual earnings within its lowered guidance, with profits rising as the government looks more closely at pricing strategy in the fuel sector. In the year to March 31, revenue surged 18 percent to $4.57 billion, from $3.86 billion a year earlier. Net profit rose 8 percent to $263 million, while replacement cost operating earnings before interest, tax, depreciation and financial adjustments - a measure Z uses to strip out the changing value of inventory - rose 13 percent to $449 milli...

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