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.

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