Caltex Australia

Fuel distribution company, Caltex Australia (ASX:CTX) have announced its full year profit results for 2012 to its shareholders and investors on the Australian sharemarket.

• Caltex Australia Net Profit of $57 million, up from a loss of $714 million in the previous year.

Petroleum refiner, distributor and convenience store operator, Caltex Australia (ASX: CTX) have released their 1H half year financial results for FY 2012 to the ASX stockmarket.

• Caltex reports a net profit of $167 million, down from $270 million the previous year.
• The profit results are at the higher end-of-June guidance of $150 to $170 million

Australian oil refiner Caltex Australia (CTX) is expecting its annual profit to decline due to competition, refinery shut down and rising of oil prices and Australian dollar.As the situation continues, Caltex believes that their profit for 2011 will drop by up to 40 per cent.

Arrow Energy (AOE), one of the renowned coal seam gas producer and explorer of Australia with a current market capitalisation of over AUS$2 billion with resources in south and central Queensland and northern New South Wales was at the number winning company of the 10th week in ASX100 with a gain of 49.4 percent or $1.72 to its stock price closing the week at $5.20 (market capitalisation $3808.4 million).

Caltex Australia (CTX), a company that concentrates on convenience stores and also involved in refining, purchase, marketing and distribution of petroleum products was the best performer of the 2nd week in ASX100 with a gain of 6.9 percent or 64 cents closing the week at $9.86.

The Australia based petroleum product refiner and distributor Caltex Australia (CTX) has taken another hit within a week as it is expecting to see a near flat earning for the current year and is planning to shut down a refinery in Sydney as a part of its cost efficiency drive.

Australian Competition and Consumer Commission (ACCC) have blocked Caltex Australia’s (CTX) $300 million worth of acquisition bid for ExxonMobil’s Australian petrol stations. According to the regulator, the acquisition could harm the competition in the industry. The regulator expressed its concerns about 53 sites out of 300. However, it also added that the agreement could lead to a stable price increase in Sydney, Adelaide, Brisbane and Melbourne.

Mirvac Group (MGR), a company that operates real estate business in residential and non-residential projects and involved in Real Estate Fund management was the worst performer in the ASX100 index for the week losing 7.4 percent or 10 cents in its stock price and was closed for the week at $1.18.