Caltex’s star rises

The shares have soared more than 50% since last February’s 10-figure writedown. Greg Hoffman considers the case for filling your tank.

On 16 February 2012 Caltex Australia wrote down the value of its refining assets by an astonishing $1.5bn; reducing what’s left on the books to just $340m. That followed a warm-up writedown of $67.7m, made four months earlier.


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