Caltex: Interim result 2014

The transformation of Caltex is on track and will build a better business, says Gaurav Sodhi.

The headlines suggested bad news – job cuts and refining losses – but the real story was rather good. Caltex is successfully morphing from a capital pig into a reliable retailer and the market is starting to appreciate that change. Although underlying results were within expectations, the share price jumped 7% following their release.


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