30/11/2012 - Z updates
We were pleased to be able to announce a solid performance for the first six months of the 2013 financial year, particularly given the vigorous competition and a stubbornly slow domestic economy.
Z’s recorded Current Cost Operating EBITDAF for the six months was $96.8 million, up 17 per cent from $82.8 million for the previous corresponding period..
Mike Bennetts said at the announcement he was particularly pleased with how Z’s ongoing strategy implementation and the evolving Z brand was helping deliver consistent earnings despite these challenges.
Independent brand tracking now shows Z as New Zealand’s most preferred and recommended brand in its category, with increasing customer loyalty.
Z’s new convenience offer is also landing well, with shop sales in reformatted Z stores delivering a 5.5 per cent growth in sales year on year.
There’s an expectation that conditions will remain challenging over the remainder of the financial year, with the volatility that has characterised the first half continuing. However, we fully expect to meet our forecast budget for the full year.
If you’d like more information on our results and the implementation of our strategy to date go to z.co.nz/about-z/news/media-news/z-energy-results-announcement-for-the-six-months-to-30-september-2012/
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