Z Energy wary of discounting petrol prices, bolsters margins in improved 1H earnings

Wed, 06 Nov 2013

By Paul McBeth Nov. 7 (BusinessDesk) - Z Energy chief executive Mike Bennetts says he’s wary of a new type of customer happy to hunt for the biggest discount at the pump, and that the service station has no plans to chase them. The Wellington-based company boosted earnings before interest, tax, depreciation, amortisation and fair value adjustments 7 percent to $107 million in the six months ended Sept. 30, fattening its margins in the face of a 6.6 percent drop in sales to $1.39 billion. Net profit more than doubled to $55.5 million, or 13....

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