Australia's Ampol up on plans to divest Aus, NZ retail electricity businesses

Ampol

13/05/2025 05:14

** Australian fuel retailer Ampol's ALD.AX shares rise 1% to A$26.005

** Stock climbed as much as 2.8% earlier in the day, hitting highest level since March 4

** Co to divest its New Zealand and Australian retail electricity businesses

** The decision is part of ALD's intention to focus on electric vehicle (EV) charging and renewable fuels

** ALD expects to receive pre-tax proceeds of A$65 million  ($41.54 million) as a result of the transactions

** Additionally, co's group replacement cost operating profit (RCOP) EBITDA is expected to improve by about A$30 million per annum at the end of 2025, reflecting reduction in losses incurred relative to 2024

** Stock down 8.6% this year, as of last close

($1 = 1.5649 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com;))