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.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.