Z first-half profit climbs 10% as Chevron acquisition drives sales; margins shrink

Wed, 08 Nov 2017

By Paul McBeth Nov. 9 (BusinessDesk) - Z Energy lifted first-half profit 10 percent as the acquisition of Chevron New Zealand's retail network swelled sales, even as retail margins shrank from what the transport fuels company described as the top of the cycle. Net profit rose to $80 million, or 22 cents per share, in the six months ended Sept. 30 form $73 million, or 18 cents, a year earlier, the Wellington-based company said in a statement. Sales climbed 26 percent to $2.09 billion on a 13 percent increase in the volume of fuel sold to...

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