BUZZ-Australia's Ampol retreats on lower annual earnings forecast

Reuters
01-23
BUZZ-Australia's Ampol retreats on lower annual earnings forecast

** Shares of Ampol ALD.AX fall 2.1% to A$29.32

** Australia's top fuel retailer fell as much as 3.9% earlier in the day, posting biggest intraday fall since mid-October 2024

** Co sees steep drop in annual earnings as production at its Lytton refinery in Queensland was hit by operational constraints and lower refining margins

** Co sees EBIT on a replacement cost basis of about A$715 mln ($448.52 mln) for FY24, lower than A$1.30 bln in FY23

** Total sales volumes decreases 2.1% in 2024, Q4 Lytton refinery margins slump 56%

** Stock up 6.2% YTD as of last close

($1 = 1.5941 Australian dollars)

(Reporting by John Biju in Bengaluru)

((John.Biju@thomsonreuters.com))

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