Caltex Australia Limited (ASX: CTX) has released its unaudited half year profit outlook for 2016.
Caltex expects its after tax profit to be between $310 and $330 million for the 2016 half year, which. This is lower than its result from the same period last year – which was $375 million, plus a $29 million significant item gain after tax.
The company forecasts its net debt at 30 June will be $700 million, which is up from $432 million at 31 December 2015.
However, Caltex says that the volatility of crude oil prices and the Australian-US dollar exchange rate could materially impact these results.
Caltex reported a net profit of $522.6 million at 31 December 2015.
