Fuel retailer Ampol reports 68% drop in annual profit

Reuters
02-24
Fuel retailer Ampol reports 68% drop in annual profit

Feb 24 (Reuters) - Australia's Ampol ALD.AX reported a 68% fall in annual profit on Monday, impacted by lower refining margins at its Lytton refinery in Queensland along with a decline in its fuels and infrastructure business.

The country's top fuel retailer posted net profit after tax from continuing operations for the year ended December 31 of A$234.8 million ($149.5 million) on a replacement cost basis, compared with A$740.1 million in the previous year.

That missed a Visible Alpha consensus estimate of A$246.1 million profit.

($1 = 1.5708 Australian dollars)

(Reporting by Roshan Thomas and John Biju in Bengaluru; Editing by Lisa Shumaker)

((John.Biju@thomsonreuters.com; Roshan.Thomas@thomsonreuters.com))

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