MARKETS

Caltex warns first-half underlying net profit to fall 50%

FUEL retailer Caltex today released its unaudited profit guidance for the half year ended June 30, shocking the market by announcing it expected net profit to be less than half what it was 12 months ago.

Paul Hunt

Caltex warns first-half underlying net profit to fall 50%

Shares in Caltex Australia fell as much as 18% as the company downgraded its forecast replacement cost operating profits to somewhere between A$120 and $140 million, which is well below last year's...

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