Australia’s Ampol hopes for 2023 after record annual profit, bumper dividend | – #Australias #Ampol #hopes #record #annual #profit #bumper #dividend
20 February (Reuters) – Australia’s Ampol Ltd ( ALD.AX ) said on Monday it had a strong start to 2023 and was well-positioned to ride out continued volatility in oil markets after boosting 2022 profits to a record high following a rise in refined product prices. he said. , allowing it to declare a bumper dividend.
Ampol, the country’s best fuel supplier, january He said refined product markets were strong in May, with Australia’s fuel volumes and relaxed retail trade improving from last month’s lows due to COVID.
“Ampol has had a strong start to the year and is well positioned to manage continued volatility in global markets.”
“Longer term, Ampol’s operations are well-positioned to capture opportunities in the liquid fuels value chain,” the country’s largest fuel supplier said, as its fuel retail division saw a nearly three-fold jump in operating income.
Ampol’s net profit after tax from continuing operations for the year ended December 31 was A$732.3 million (A$502.43 million) on a replacement cost (RC) basis. USA dollars) rose, with a profit of 297.8 million Australian dollars last year.
Latest UpdatesRegulatory Oversight CategoryIEA’s Birol warns of tightening energy supply next winter, article with galleryWorld CategoryMexico’s Lopez Obrador orders ministry to speed up lithium nationalization, article with gallery
See 2 more stories
It beat Refintiv’s valuation of A$728.9 million.
It also declared a final ordinary dividend of 105 Australian cents a share, up from 41 AU cents last year. It also declared a special dividend of 50 AU cents each.
Ampol and smaller Viva Energy ( VEA.AX ) are both operators of Australia’s two oil refineries weather benefited from higher refined product prices, supported by rising demand amid a recovery in transport and limited supply from China.
“Strong operational performance and the ability to secure sufficient crude oil supplies through our international supply team means Lytton will capture the high refining margins available in 2022,” Ampol said.
Lytton Refinery, operated by Ampol with government support until at least 2027, reported earnings before interest and tax (EBIT) from continuing operations of A$686.7 million on an annual RC basis, compared with A$158.7 million last year noted.
Ampol’s Fuel and Infrastructure (F&I) division recorded EBIT from continuing operations of A$853.0 million on a RC basis, up nearly 180% from a year ago, and the division is expected to benefit from a recovery in demand for jet fuel as COVID restrictions ease.
However, the fuel seller will continue to influence crude and refined product markets in 2023 and the medium term. Russia noted geopolitical factors, including sanctions and decisions to export Chinese products.
($1 = 1.4575 Australian dollars)
Reporting by Nausheen Suchoo in Bengaluru; Edited by Barbara Lewis, Deepa Babington, and Diane Craft
Our standards: Thomson Reuters Trust Principles.
2023-02-20 02:37:49
Source – reuters
Translation“24 HOURS”