Caltex Australia has reported a 54 per cent fall in first-half profit, hurt by weakness in refining margins amid higher crude prices.
Net profit on a “replacement cost” basis came in at $135 million for the six months to June 30, compared to June’s guidance of between $120 million and $140 million.
The petrol station owner and convenience store owner reported a $296 million profit in the prior corresponding period.
AAP