Z Energy FY17 profit boosted by Caltex acquisition

Company News

by David Chau

New Zealand fuel distributor, Z Energy (ASX:ZEL), posted its financial results for the full year ended 31 March 2017 this morning.

Its historical cost net profit after tax rose to $243 million – an improvement over last year’s $64 million. The company says its profit result was primarily driven by its acquisition of Caltex.

Replacement cost operating EBITDAF (earnings before interest, tax, depreciation, amortisation and fair value adjustments) rose 48% to $392 million.

The company declared a final dividend of 19.9 cents per share, which is a 10% incresae over last year.

Yesterday, Z Energy shares closed 1.39% higher at $7.30.

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.