Fuel retailer Ampol expects lower earnings for fiscal first-half
Recasts paragraph 1, updates with further details and background
July 25 (Reuters) -Australian fuel retailer Ampol ALD.AX on Thursday forecastlower earnings for the first half of fiscal 2024, reflecting a fall in total second quarter production at its Lytton refinery in Queensland.
It recorded second-quarterLytton output of 1,420 million litres, compared with1,484 million litres reported a year ago.
The company expects earnings before interest and tax on a replacement cost basis (RCOP EBIT) to be between A$500 million ($329.00 million) and A$510 million for the first half of 2024, lower than last year's A$576.3 million.
Total sales volume for the company also fell during the half year to13,252 million litres from14,081 million litres a year ago.
It recorded second-quarterLytton refinery margin of $8.81 per barrel, lower than thefirst quarter this year due tolower product cracks and a time difference between the crude being priced and beingconsumed during production.
($1 = 1.5198 Australian dollars)
Reporting by Roshan Thomas in Bengaluru; Editing by Sriraj Kalluvila and Devika Syamnath
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