Strong Sales of Premium Fuels Fattens Caltex Profits
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For 2016, the company now expects to earn a net profit of $560 million to 580 million, well ahead of the $493 million earned in 2015, as it benefits from the sales boost and the higher oil price lifting its inventory values.
Strong sales of premium petrol products and the rising oil price have helped oil refiner and distributor Caltex raise its full-year profit forecast...
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