Z Energy half-year earnings rise 43%

Company News

by David Chau

Z Energy Ltd (ASX:ZEL) has posted its half yearly results ending 30 September 2016. The New Zealand company reported its historical cost NPAT was $82 million, which is up from $67 million at the same time last year.

Also, its replacement cost operating EBDITA was $167 million, up 43% from pcp. This earnings result includes four months of contributions from Chevron New Zealand , which Z Energy acquired earlier this year.

Z Energy also declared a fully imputed interim dividend of 9.4 cents per share, which is up 10 cents over last year's dividend – and it will be paid on 12 December.

The company has also lifted its earnings guidance this financial year. Originally, its EBITDA was projected between $260 million and $290 million. Now, it’s been upgraded to a range between $385 million and $415 million.

Z Energy posted a net profit of $57.7 million at 31 March 2016.

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