Ampol reports $1.63B half-year core earnings

• Core operating profit reached $1.64 billion.
• Ampol declared a fully franked interim dividend of $1.85 per share.
• Executives stated the EG Australia deal is expected to increase retail earnings.

Ampol (ASX:ALD) reported a 152% increase in half-year core earnings to $1.64 billion, surpassing last year's $648.9 million, driven by strong refinery performance and global market shifts.

Net profit after tax reached $857 million, while statutory profit after tax came to $1.36 billion.

Lytton RCOP EBITDA was $567.1 million and RCOP EBIT was $533.4 million, as the Middle East conflict tightened global refining supply, elevating product cracks, resulting in the Lytton Refiner Margin for the half of US$28.26 per barrel.

"While the market dislocation provided a benefit to our financial results, our supply responsiveness, trading capabilities, refinery reliability, customer and supplier relationships, and the progress of our retail segmentation strategy all enabled Ampol to meet its customers' needs," said Ampol Managing Director and CEO Matt Halliday.

Ampol progressed the rollout of the AmpCharge network to 356 charging bays in Australia during the period.

The impact and uncertainty caused by the Middle East conflict is likely to have contributed to an acceleration in EV new car sales as a percentage of total sales, with EV sales exceeding 20% in each of May, June and July.

The company stated that completing the EG Australia acquisition is expected to accelerate its retail earnings growth.

Ampol declared an interim dividend of $1.85 per share, payable on Sept. 30 to shareholders on record as of Sept. 7.

Management anticipates continued resilient operations, and following the announcement, the Ampol share price was up at $39.85.

The firm maintains a complex fuel supply chain focused on domestic refining and importing refined petroleum products.