Caltex Australia ASX has announced that it has made for 1H15 HCOP net profit after tax of $375 million. On a replacement cost of sales operating profit (RCOP) basis, an after tax profit of $251 million for 1H15 was made. 1H14 saw RCOP basis after tax profit of $173 million.
The company saw strong progress in transforming its business model to an integrated fuels supply chain business as it maintained position as a leader in transport fuels.
Regarding Supply and Marketing, an EBIT of $264 million was made, which included direct shipping and demurrage costs of $20 million incurred in support of Lytton major maintenance programme.
Total sales volumes of transport fuels for the 1H15 were 7.7 billion l, 4.4% lower than in the same period of 2014 (8.1 billion l), reflecting the timing impact of a major diesel supply contract loss, without the full benefit in the first half of a new larger long term diesel supply contract.
In addition, total diesel volumes declined to 3.5 billion l (5.2%). This was driven by lower spot volume marine diesel sales in Western Australia compared to prior year and reduced diesel requirements as a number of LNG projects near completion.
The Board declared an interim fully franked dividend of 47.0 cps for 1H15, in line with the dividend pay-out ratio of 40% to 60%.
Edited from press release by Angharad Lock