The country's largest oil refiner, Caltex Australia (CTX), recorded a 16.7% improvement in 1H13 net profit to $195m

CommSec

Online Stockbroker

The country's largest oil refiner, Caltex Australia (CTX), recorded a 16.7% improvement in 1H13 net profit to $195m. Its bottom line was held back by the substantial slide in the Australian dollar, surprise outages & depreciation costs. Despite the $39m FX loss between Jan-Jun, CTX expects the weaker currency to have a favourable impact on Australian dollar refiner margins. Revenue was a touch weaker, partly due to outages at its Lytton refinery in QLD & its Kurnell site in Sydney. Looking ahead, CTX expects marketing & distribution growth to continue together with the successful transition of its Sydney refinery into Australia's largest import terminal (plays in part in higher CAPEX for 2013). For more info visit: (VIEW LINK)


CommSec
CommSec
Online Stockbroker
Online Stockbroker

CommSec is Australia's leading online broker. CommSec has been committed to providing the best in online trading since 1995. CommSec helps make informed investment decisions with comprehensive market research, free live pricing and powerful...

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