Ampol doubles dividend, notches up record profit | clancyyeates
Fuel giant Ampol’s boss Matt Halliday says the wide refining margins that drove the company’s profits to a record high are unlikely to persist, as petrol prices ease at bowsers across Australia.
He added the surge in margins was caused by the wider crisis in energy markets, and while he did not predict where oil prices were heading, more volatility was likely. Chief investment officer at Atlas Funds Management, Hugh Dive, said refining had typically been a tough business for Ampol due to the stiff competition from larger-scale offshore operators.
“Prices have come off from the levels that we saw in June in particular, so that’s good to see,” he said.
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