Caltex upgrades outlook

Caltex Australia has upgraded its outlook for the second half, indicating it was rebounding from the bottom of the cycle for refining margins and was benefiting from increased sales of premium fuel products. Caltex said that, excluding significant items totaling A$15 million (US$14.81 million), it would report after-tax profit of between A$300 million (US$296.10 million) and A$310 million (US$305.97 million) for the year ending December 31. (December 10, 2010)