Home

Ampol says no guidance amid virus hit

AAP
Ampol has made its return to Australia after a name change at Caltex Australia.
Camera IconAmpol has made its return to Australia after a name change at Caltex Australia. Credit: Ian Munro/WA News

Refiner and fuel retailer Ampol will not provide profit guidance for the half- year ended June 30, given the unprecedented levels of business disruption from the COVID-19 pandemic and continued hydrocarbon market volatility.

The company, previously known as Caltex Australia, in May said it had seen a slump in fuel demand amid widespread social restrictions and business closures.

Ampol’s retail fuel volumes between January and April dropped 16 per cent from a year earlier and it had also forecast a slide in aviation fuel demand.

Ampol had cut staff hours and pay in an effort to save $10 million a month in operating costs and also said it would keep capital expenditure below $250 million in 2020.

AAP

Get in front of tomorrow's news for FREE

Journalism for the curious Australian across politics, business, culture and opinion.

READ NOW

Get the latest news from thewest.com.au in your inbox.

Sign up for our emails