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Australia: Caltex Makes Q1 Profit After Tax Of au$172m

Australia: Caltex Makes Q1 Profit After Tax Of au$172m

This is up from au$161 million compared to the same period last year

Unaudited figures for the first quarter show that Service station group Caltex has made profit after tax of $172 million, up from $161 million in the same period a year ago. A replacement cost of sales operating profit includes the unaudited trading update, which removes fuel price fluctuations of $155 million, consistent with the prior corresponding period's $154 million result.

For the first quarter, total domestic sales volumes of fuel, amounted to 4.1 billion liters, up about three per cent on a year ago. The underlying first quarter profit after tax was up just over one per cent, excluding unfavorable externalities" of $7 million, said the company.

1.578 billion liters totaled sales of transport fuels from production. This is an eight per cent increase but a lower refiner margin has resulted in the group's Lytton refinery in Brisbane recording a 28 per cent decline in first quarter earnings before interest and tax from $66 million a year ago to $47 million in the quarter.

The difference between the cost of importing a standard basket of products and the cost of importing crude - the average realized Caltex refiner margin was $US9.40 per barrel. This was down $US2.82 per barrel compared with the prior corresponding period average of $US12.22 per barrel. Source: SBS News PWKD14052018

Last modified onSunday, 13 May 2018 22:36
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