Ampol announces $500m profit in resilient half-year

Ampol has announced an unaudited group replacement cost operating profit (RCOP) of approximately $500-$510 million for the first half of the 2024 financial year.

This represents a resilient performance for the fuel company, after two years of record growth.

The RCOP earnings before interest and tax (ebitda) are expected to be around $735m-$745m.

Ebit for Ampol's convenience retail and New Zealand segments grew, despite tougher economic conditions.

The ebit for fuels and infrastructure (F&I) Australia was in line with the previous year, while F&I international was lower because of less favourable trading conditions, especially in the second quarter.

Further details of the financial results will be provided in the 2024 first-half results release on Aug 19.