Fuel refiner and retailer Caltex Australia says it expects annual profit after tax in the range of $560 million to $580 million for the 2016 financial year.
This is better than the $522 million profit in the 2015 financial year, however slim refining margins have dented its earnings with its Lytton refinery in Brisbane expected to make $200 million in earnings before interest and taxes, down from the $406 million EBIT in the prior year.
"Less favourable externalities have led to a lower Lytton refining EBIT, despite a continued strong operating performance," the company, which trades on the calendar year and is due to release its 2016 results in February, said on Thursday.
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