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Z Energy gives upbeat outlook despite sharp fall in margins, blaming rising crude prices

Z Energy gives upbeat outlook despite sharp fall in margins, blaming rising crude prices
6 May, 2021 01:18 AM
3 minutes to read
Fuel giant Z Energy said margins were expected to recover despite a sharp fall in the first three months of 2021. Photo / Dean Purcell
Fuel giant Z Energy said margins were expected to recover despite a sharp fall in the first three months of 2021. Photo / Dean Purcell
Z Energy shares jumped as the fuel retailer resumed dividend payments, gave an upbeat assessment of new industry legislation and predicted margins on fuel would recover from their current multi-year lows.
The Wellington-headquartered company, which also operates the Caltex brand, delivered a net profit after tax of $57 million for the 12 months to March 31, which it said was an increase of 165 per cent on the previous year. ....

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Number of new Covid-19 infections remain high, says Laos govt

The number of new cases of Covid-19 recorded in Laos remains high despite the government’s reinforced measures to contain the spread of the virus. ....

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Cricket: Mike Hesson shares eye-opening image as Black Caps leave India after IPL suspension

A confronting image of Black Caps at an airport shows the drastic measures taken in India. ....

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Cambodia's Covid-19 cases continue to soar as tally nears 17,000

Garment workers leave from a factory at Chak Angre commune in Phnom Penh s Meanchey district on March 15, 2021.- Phnom Penh Post/ANN
PHNOM PENH, May 5 (Xinhua): Cambodia s Covid-19 cases climbed to 16,971 on Wednesday after 672 new cases were reported in the last 24 hours, the Ministry of Health (MoH) said in a statement.
The new infections included 667 local cases and five imported cases, the statement said.
Three more deaths were confirmed, taking the death toll to 110, the statement said, adding that 228 patients had recovered, bringing the total recoveries to 6,019.
The MoH on Wednesday required people in three other provinces, namely Takeo, Kampong Cham and Kampong Speu, to wear face masks in public and in businesses to curb the spread of Covid-19. ....

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Vietnam's phone export up 19.4% in 4 months; cloth imports also up in same period

HANOI, May 5 (Xinhua): Vietnam earned nearly US$18.4 billion from exporting phones and components in the first four months of this year, which accounted for 17.7 per cent of the country s total export revenue over the period.
The export posted a year-on-year rise of 19.4 per cent, according to the country s General Statistics Office on Wednesday.
With that revenue, phones and components continued to be Vietnam s largest export item, followed by computers and electronic components.
Between January and April, Vietnam also spent over US$6 billion importing phones and their components, surging 44 per cent year on year.
In 2020, the country earned roughly US$50.9 billion from exporting phones and components, mainly to China, the United States and South Korea, posting a year-on-year decline of 1 percent, according to data from the office. ....

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