Dollar hits Caltex first half earnings

Already weighing up refinery closures, Caltex warns of hit to first half earnings

Caltex Australia Ltd has flagged a decline in first-half profit because of the Australian dollar's sharp drop and a recent pipeline outage at a refinery.

In a statement to the Australian Securities Exchange after the market close last night, Caltex forecast a net profit of between $160 million and $175 million in the six months to June 30, down from $197 million in the same period last year.

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