Australia's Ampol hits over 2-year high on strong HY results
BUZZ-Australia's Ampol hits over 2-year high on strong HY results Updates
** Shares of Ampol ALD.AX rise as much as 4.4% to A$41.590, hitting their highest level since April 8, 2024
** Stock set for best intraday session since July 13, if current gains hold
** Australia's top fuel retailer posts nearly five-fold rise in interim profit to a record high of A$857.2 mln ($614.78 mln), comfortably beating Visible Alpha consensus estimate of A$840 mln
** Declares an interim dividend of 185 Australian cents per share
** Co says profit margins at its refinery more than tripled in H1 to $28.26 per barrel following start of the U.S. war with Iran
** "Ampol is entering the second half with a much stronger earnings and cash-flow profile, alongside a meaningful improvement in investor confidence" - Hebe Chen, a market analyst at Vantage Markets
** Stock up 30.1% YTD, including the day's moves
($1 = 1.3943 Australian dollars)
(Reporting by Shivangi Lahiri & Rajasik Mukherjee in Bengaluru)
Recent news on Ampol
See all newsAustralian fuel retailer Ampol falls as Jefferies cuts price target
Jefferies cuts Ampol price target after Q3 trading update
Australia's Ampol drops to 8-week low on trimmed outlook
Ampol shares slump as maintenance work overshadows strong refining margins (updated)
Brief: Ampol Posts Q3 Lytton Refiner Margin $23.92 Per Barrel