Dejavoo:
Yes, it was the reading of the Z-Energy (ZNZ) prospectus that reminded me to listen to the CTX result presentation and to re-visit the company as an investment opportunity.
I noted that Z-Energy currently earns 16.5 NZ cents/litre in its fuel distribution business, compared to CTX's 4.4 Au cents/litre.
And while some structural market differences (mainly geography and retail/commercial mix) mean that CTX's fuel marketing margin is unlikely to ever match that of ZNZ, I do think that there is upside to CTX's margin once it is in a position in 2014 to sell everything it sources at full margin (unlike now, given Kurnell - by its very operational nature - produces products that are not in demand and therefore have to be discounted in the market or even sold at a loss)
I just didn't make any comparative reference to ZNZ's because I assumed no one would really be familiar with the company given its recent listed history. Seems I was wrong!
Cam
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Last
$27.52 |
Change
0.250(0.92%) |
Mkt cap ! $6.558B |
Open | High | Low | Value | Volume |
$27.08 | $27.52 | $26.99 | $19.46M | 710.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 828 | $27.36 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$27.53 | 577 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 320 | 27.280 |
1 | 1 | 27.220 |
2 | 1190 | 27.000 |
1 | 1000 | 26.900 |
1 | 529 | 26.890 |
Price($) | Vol. | No. |
---|---|---|
27.750 | 310 | 1 |
27.800 | 2000 | 1 |
27.990 | 1500 | 1 |
28.000 | 570 | 2 |
28.010 | 224 | 1 |
Last trade - 16.11pm 25/07/2025 (20 minute delay) ? |
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