CEO Matt Halliday said the petrol and diesel supplier is reducing reliance on domestic fuel sales as it expands in convenience retailing and overseas.
Operating profit excluding one-off items fell to $329.6 million in the half yearAn unexpected breakdown at Ampol’s only oil refinery drove a 26 per cent drop in first-half core profit, but chief executive Matt Halliday said the result was “strong”, with progress made on reducing reliance on domestic fuel supplies.
Ampol, the former Caltex Australia, slashed its first-half dividend to 95¢ per share, from $1.20 a year ago, despite the payout ratio being towards the top of the range. Mr Halliday said the value of Ampol’s integrated supply chain for petrol, diesel and jet fuel was on full display in the half. The company has been expanding its operations overseas and moving into low-carbon energy to build its resilience amid an inevitable decline in petrol and diesel demand.
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