NZ's Z Energy Year Profit Falls

Posted by Joseph R. Fonseca
Wednesday, May 07, 2014
Logo

 

New Zealand petrol retailer Z Energy Ltd reported a 31 percent fall in its annual profit on Thursday, on the back of lower revenue and higher costs.

The company reported a profit of NZ$95 million ($82.4 million) for the 12 months to March 31 compared with NZ$137 million the year before.

It is the company's first reported profit as a listed entity after an IPO last year.

Z Energy said earnings before interest, tax, depreciation, amortisation, and fair value movements (EBITDAF) were NZ$219 million from NZ$196 million last year. Last month it reaffirmed guidance of EBITDAF at NZ$205 million to NZ$215 million.

It said it expected EBITDAF of between NZ$220 million to NZ$240 million for the coming year.

It declared a final dividend of 14.3 cents a share.

Z Energy operates more than 250 petrol stations and truck stops and has a 17 percent stake in the country's only oil refinery.

Last month it said it would invest NZ$21 million in a biodiesel facility, and has also formed a joint venture with BP Ltd and New Zealand Refining Ltd to buy crude oil.

(Gyles Beckford)

($1 = 1.1528 New Zealand Dollars)

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Matson Pumps $30 Million into Alaska Operations

Ocean cargo shipper Matson, Inc. said it is moving quickly to fund improvements in its new Alaska operations following its May 29 acquisition of Horizon Lines' Alaska services.

General Dynamics Tops Q2 Estimates

General Dynamics Corp, a maker of ships, tanks and business jets, reported higher-than-expected quarterly earnings and revenues on Wednesday, and sharply raised its outlook for full-year profit.

Next Wave of FLNG Projects on the Horizon

There will be significant growth in both investment and activity in the FLNG market over the next seven years, with Douglas-Westwood (DW) forecasting total expenditure of $58.

Energy

Mexico to Postpone Deep Water Auction

Mexico, which has started to open its nationalized oil industry to additional private investment, will postpone auctions for deep-water oil exploration and production

Oregon Bridge Danglers Hope to Delay Shell's Arctic Drilling

Protestors rappelled off a bridge in Portland, Oregon on Wednesday hoping to delay Royal Dutch Shell's Arctic oil exploration this summer by blocking the return

Côte D’Ivoire Invests in O&G Safety Training

Thegrowth in oil and gas activity in Côte D’Ivoire has seen investment in standardized safety training in the region far outstrip that of other hydrocarbon-rich West African countries,

Fuels & Lubes

Côte D’Ivoire Invests in O&G Safety Training

Thegrowth in oil and gas activity in Côte D’Ivoire has seen investment in standardized safety training in the region far outstrip that of other hydrocarbon-rich West African countries,

Diesel Spill in Houston Ship Channel

A small section of the Upper Houston Ship Channel was closed Tuesday morning after a report of 1,000 gallons of diesel entered Greens Bayou from a cement facility, the U.

Singapore MPA Wants LNG Bunkering Options

Singapore's Maritime Port Authority is seeking proposals on liquefied natural gas bunker supplies as it shifts away from fossil fuels towards gas while trying to

News

Mexico to Postpone Deep Water Auction

Mexico, which has started to open its nationalized oil industry to additional private investment, will postpone auctions for deep-water oil exploration and production

Oregon Bridge Danglers Hope to Delay Shell's Arctic Drilling

Protestors rappelled off a bridge in Portland, Oregon on Wednesday hoping to delay Royal Dutch Shell's Arctic oil exploration this summer by blocking the return

CWind Supports Ballast Nedam at Butendiek OWF

CWind, a provider of integrated services to the wind industry, announced today that it is providing corrosion protection services to Ballast Nedam at Butendiek Offshore Wind Farm (OWF).

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Salvage Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2008 sec (5 req/sec)