Energy Shares News Caltex (CTX)


Caltex CTX ASXCaltex (CTX) is Australia’s leading transport fuel supplier and convenience retailer and the only integrated oil refining and marketing company listed on the ASX.

CTX operates two major refineries, at Kurnell in Sydney, and Lytton in Brisbane. CTX also operates a convenience store network in association with service station sites.

CTX has been one of the hot stocks in recent months, surging from around $9 in July to be now trading around $14.40.

On 9 November, CTX announced that it expects FY10 underlying profit to fall by 7% due to a strong Aussie dollar and a maintenance-related shutdown at one of its refineries.

CTX expects operating profit (which excluded the impact of oil price volatility) to be between $285 million and $295 million, compared to last year’s $203 million.

The stronger Aussie dollar was expected to wipe $65 million from Caltex’s refinery margins from 2009.

CTX declined 0.6% following that day’s profit warning.

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