Z Energy triples annual profit after Chevron acquisition

Wed, 10 May 2017

By Tina Morrison May 11 (BusinessDesk) - Z Energy, the New Zealand listed service station chain, more than tripled its annual profit after acquiring Chevron New Zealand's Caltex and Challenge! brands. Profit jumped to $243 million, or 61 cents per share, in the 12 months ended March 31, from $64 million, or 16 cents, the year earlier, the Wellington-based company said in a statement. Revenue climbed to $3.87 billion from $2.52 billion. The latest earnings were boosted by 10 months of contribution from the Chevron acquisitions. The tra...

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