MARKETS

Caltex profits plummet 54% on weaker refining margins

CALTEX Australia's profits plummeted more than 50% over the first half of the calendar year, with the refiner and fuel retailer weighed down by historically low Australian refining margins and a weak economy.

paul hunt

Caltex profits plummet 54% on weaker refining margins

In line with guidance it released in June, the refining and fuel giant announced this morning a net replacement cost of sales operating profit (RCOP) of A$135 million, down 55% compared to $296 million...

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