- Earnings per share expected to surge by 57%
- Increase attributed to stockholding gains and FX gains on operations
Harare – Puma energy Zambia has issued an optimistic earnings guidance for the six months period to 30 June 2020 compared to the prior comparable period last year.
“…the Board of Directors of Puma Energy Zambia PLC (“Puma” or “the Company”) hereby advises the Shareholders of the Company that the Earnings per Share and Headline Earnings per Share for the half-year ended 30 June 2020 are expected to be approximately 57% higher than for the half-year ended 30 June 2019.”
The company said the increase can be attributed to stockholding gains recorded during the period under review compared to stock holding losses recorded in the prior comparable period and to FX gains on operations compared to FX losses on operations in the same period last year.
For the second quarter ended 30 June 2020 the company said sales volumes were down by 16.9% but recovered since April and was offset by an 18.0% increase in unit margins.
Puma Energy Zambia Plc markets and distributes petroleum products and lubricants in Zambia; ensuring a secure, safe and affordable supply to the following sectors: business-to-business, retail, lubricant, aviation, bitumen, liquefied petroleum gas, storage, supply, bunkering, wholesale, marine systems and refining.
It also owns 53 service stations, located in the main towns and cities of Zambia.
Puma Energy Zambia is a subsidiary of Puma Energy International BV; a global energy business with integrated midstream and downstream operations in 50 countries across five continents.
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