Brief: Refining NZ Posts FY Total Income NZ$234.1 Million

Channel Infrastructure NZ

22/02/2022 23:41

Feb 23 (Reuters) - New Zealand Refining Company Ltd
 NZR.NZ :
    * REFINING NZ - FY TOTAL INCOME NZ$234.1 MILLION VERSUS
NZ$245.7
MILLION
    * REFINING NZ- FY NET LOSS AFTER INCOME TAX ATTRIBUTABLE
NZ$552.6
MILLION VERSUS LOSS OF NZ$198.3 MILLION
    * REFINING NZ- FY22 OPERATING COSTS (EXCLUDING CONVERSION
COSTS)
EXPECTED TO BE C. NZ$70 MILLION
    * REFINING NZ- BORROWINGS WILL INCREASE OVER YEAR AND ARE
EXPECTED
TO AVERAGE AROUND NZ$250 MILLION IN FY22
    * REFINING NZ- CURRENT WORKFORCE OF ABOUT 300 EXPECTED TO
REDUCE
OVER 2 YEARS AFTER COMMENCEMENT OF IMPORT TERMINAL OPERATIONS TO
ABOUT 70 EMPLOYEES
    * REFINING NZ - TOTAL COST OF THE WORKFORCE TRANSITION AND
RESTRUCTURE  IS ESTIMATED AT NZ$26 MILLION.

Source text for Eikon:  ID: 
Further company coverage:  NZR.NZ 

 (Reuters.briefs@thomsonreuters.com)