Z Energy warns of $120m earnings downgrade
Shares slump 16% as fuel retailer cites price discounting and low refining margins.
Z Energy has dropped its earnings guidance for the 2020 financial year due to low refining margins and competitive pricing in the retail fuel market.
Z’s revised ebitdaf earnings guidance was dropped to between $350 million and $385m, down from the previously indicated range of between $390m
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