The service station chain operator declared a fully franked interim dividend of 120 cents per share for the six months to June 30, more than double the prior interim dividend and more than the total dividend for the full fiscal 2021 year.
The net profit of $695.9 million for the six months to June 30 represented an increase of 114 per cent compared to the previous first half, with total sales volumes increasing to 11.5 billion litres.
Ampol also delivered the strongest half-year replacement cost operating profit in its history with earnings before interest and tax of $734.1 million, including $693.1 million from continuing operations excluding Gull, despite COVID-19 disruptions and challenging weather conditions.
"This result demonstrates the benefits of Ampol's integrated supply chain," managing director and CEO Matt Halliday said in a statement on Monday.
Group results include two months of Z Energy trading and a full six months of Gull earnings.
Since the end of the half, global crude and product markets have continued to experience significant levels of volatility, falling in mid-July, Ampol said.
Supply and demand fundamentals are largely unchanged with Russian sanctions and variable levels of Chinese refined product exports constraining supply, the fuel company said.
On the demand side, global inventory levels are low ahead of the traditional inventory build for the northern hemisphere winter.
But the recent easing in refined product costs is expected to release working capital and improve operating cashflow in the second half, Ampol said.
Ampol completed the acquisition of Z Energy during the period, strengthening its presence in New Zealand.
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