Ampol Shares Fall on Lower Lytton Output Forecast
Ampol lowered its fourth-quarter output forecast after scheduling additional maintenance at its Lytton refinery. The move overshadowed strong third-quarter refining margins and sent company shares lower.
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AMPOL LTD cut its fourth-quarter output forecast by 150 million litres on Monday morning after bringing forward maintenance work at its Lytton refinery. The refinery setback overshadowed a surge in third-quarter refining margins and sent company shares down 7% to A$40.00. The stock drop marks its lowest level since August 24, making it among the top losers on the benchmark S&P/ASX 200 index.
