Caltex Australia Limited
(ASX:CTX) anticipates to a full year profit following increased production volumes at its Kurnell and Lytton refineries in Sydney and Brisbane.
The oil refining company expects to achieve a net profit of between $145 and $165 million in the current calendar year.
Caltex says the improved performance comes on the back of record marketing earnings and solid operating performance from its supply chain.
The company pointed to improved refinery reliability and higher production volumes across the Queensland and New South Wales sites which allowed them to benefit from a period of strong regional refiner margins.
Caltex remains committed to the closure of its Kurnell plant in the second half of 2014, the costs of which have been factored into its forecast.
Caltex Australia recorded a net profit of $167.3 million for the first half of its 2012 financial year.
