Caltex Australia posts a 54% drop in half-year profit

Credit: REUTERS/Mick Tsikas

Caltex Australia reported a 54% fall in half-year profit on Tuesday, at the upper end of its own guidance, hurt by weakness in refining margins amid higher crude prices.

Aug 26 (Reuters) - Caltex Australia CTX.AX reported a 54% fall in half-year profit on Tuesday, at the upper end of its own guidance, hurt by weakness in refining margins amid higher crude prices.

Net profit on a "replacement cost" basis came in at A$135 million ($91.18 million) for the six months to June 30. It had forecast profit to more than halve to between A$120 million and A$140 million in June.

The petrol station owner and convenience store owner reported A$296 million in the previous year.

($1 = 1.4806 Australian dollars)

(Reporting by Shriya Ramakrishnan in Bengaluru Editing by Chris Reese)

((Shriya.Ramakrishnan@thomsonreuters.com;))

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