News: ALD UPDATE 1-Ampol's half-year profit jumps but COVID-19 restrictions cloud outlook

(Adds outlook, details on Lytton review)

Aug 23 (Reuters) - Ampol (ALD) on Monday reported a 70% jump in half-yearly profit and doubled its dividend, after a recovery in fuel demand helped boost sales as Australia opened up from COVID-19 lockdowns earlier this year.

The company, however, said its fuel volumes had been impacted by the latest round of virus-led restrictions, adding that full-year Australia volumes may be below the previous guidance range of 13.5-14.0 billion litres.

Still, the country’s biggest fuel supplier said it was on track to deliver an A$195 million ($139 million) uplift to earnings before interest and taxes (EBIT) by 2024.

"The market has shown that demand and sales recover quickly when restrictions ease and there are signs that retail margins are providing a partial offset to the volume weakness," the company said in a statement.

The first half results were also helped by its Lytton refinery returning to profitability and receiving the federal government's Temporary Refining Production Payment of A$40 million. The company last year initiated a review and had considered closing the refinery but announced in May it would continue operating until at least 2027 with government support.

Net profit for the six months ended June 30 rose to A$204.5 million on a replacement cost basis, from A$120 million a year earlier, while an interim dividend of 52 Australian cents per share was declared. ($1 = 1.4015 Australian dollars)