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.