Caltex profits up by 11 percent


Caltex announces increase in net profit, hailing driver safety programs and fleet upgrades

By Michael House

Caltex Australia has announced an increase in its net profit for the first quarter of the year, rising 11.5 percent to $97 million compared with the same period last year at its Annual General Meeting today.

Total transport fuel sales for 2008 were also up by 3.9 percent to $14.4 billion throughout 2008.

Company Chairperson Elizabeth Bryan put the rise down to a lower dollar and the decrease in oil prices but says the result does by no means assure Caltex of an easy ride during tough economic times.

"As we progress further into 2009, the global economic climate is still very uncertain," Bryan says.

Caltex Managing Director and CEO Des King says the organisation had seen the benefits of a driver safety program and fleet upgrades it had invested in.

"In 2008 the number of motor vehicle accidents decreased by 25 percent and the number of tanker truck accidents, per million kilometres travelled decreased by 28 percents," he reports.

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