Z Energy says full-year earnings fall 1% on its adjusted measure, sales decline 18%

Wed, 11 May 2016

May 12 (BusinessDesk) - Z Energy, whose shares jumped to a record last week when it got approval to buy Chevron's Caltex and Challenge! petrol station chains, said full-year earnings fell 1 percent. The company's preferred earnings measure is replacement cost operating earnings before interest, tax, depreciation, amortisation and fair value adjustments, which was $238 million in the 12 months ended March 31, down from $241 million a year earlier. It gave a second adjusted measure to exclude $25 million of costs associated with the Chevron pu...

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