Friday 31st October 2008
|Text too small?|
Net income may rise to between $115 million and $125 million in the year ended December 31, up from about $112 million last year, the company said in a statement.
The actual figure is dependent on the level of the New Zealand dollar against the US dollar and the volume of oil processed through the remainder of the year, it said.
About 73% of New Zealand Refining is owned by BP New Zealand, Mobil Oil NZ, Shell New Zealand and Chevron New Zealand. Shares of the company rose 0.8% to $6 today and have fallen 26% this year.
In August New Zealand Refining reported interim net profit of $54 million, down 10% from $59.8 million in the previous comparable period.
No comments yet
NZ Refining turns to first-half profit on margin improvement that may not be sustained
Refinery margins improve in May and June
NZ Refining appoints Shell's Sjoerd Post as new CEO
The New Zealand Refining Company
Refinery cuts 25% off profit forecast
NZ Refining says margins healthy
Daily ShareChat: New Zealand Refining
Daily ShareChat: New Zealand Refining Co.
NZ Refining margin slides with plant outage
NZ Refining says processing margins still 'healthy'