Z Energy has reported a net profit after tax of $70 million for the six months to June 30, 2024.
The company's earnings were disclosed on a historical cost (HC) basis, as well as a replacement cost (RC) basis.
Z's total fuel sales, adjusted for the exit and sale of the bitumen and avgas businesses in 2023, were down 3.8% on a like-for-like basis.
The use of the RC accounting method, which is the globally used non-GAAP industry standard, was said to have benefited Z due to the diversification of channels to market and the integration of the Ampol supply chain.
As of June 30, 2024, Z had reached 128 bays across 44 sites for its on-the-go electric vehicle charging network.
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