Caltex Australia Limited
(ASX:CTX) has delivered a bumper first half net profit of $195 million, fueled in part by inventory gains.
The result was a significant improvement on the $167.3 million recorded for the same period last year.
In the same period revenue was $11.5 billion, a three per cent decline on the same time last year.
Caltex expects refining margins in the medium to longer term will be challenged as regional capacity is forecast to outstrip demand, though a weaker Australian dollar is likely to favourably impact margins.
The group will pay a fully-franked interim dividend of 17 cents.
