Refining NZ Provides Operational Update for March/April 2020

  • May 22, 2020 NZST
  • Team Kalkine
Refining NZ Provides Operational Update for March/April 2020

The New Zealand Refining Company Limited (NZX:NZR) had deferred all non-essential activity due to the current environment and the capex guidance has been reduced by $30 million to $40 million for FY20.

  • The company’s net debt stood at $252 million as at the end April reflecting cash neutral operations;
  • The company also extended and expanded its bank facilities in March and its total available debt funding facilities amount to $400 million with no significant maturities until March 2022.

At NZST 01:15PM, the stock was trading at $0.740 per share, up by 1.37% from its previous close.


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