Caltex Australia posts 2014 earnings; says marketing to focus on premium fuels
Caltex Australia said in mid-February along with an earnings report showing an after tax profit of just $20 million for 2014 compared with $530 million in all of the previous year that its marketing ahead will be oriented toward premium quality fuels.
“The marketing continues to focus on its core strategy of driving sales of premium fuels (including Vortex Diesel). Higher sales of premium grades of petrol and diesel, and jet fuel, continue to offset the long term decline in demand for unleaded petrol, including E10,” the company said.
“The increased penetration of premium Vortex products has been underpinned by continued investment in new retail service stations and diesel stops, and the refurbishment of existing service stations,” it added.
Recent acquisitions, such as the Queensland Fuel Group in 2013 and the Scott's Fuel Divisions, which was completed in June 2014, have also contributed to the strong Marketing result. Caltex is also one of Australia’s largest convenience retailers and franchisors, with over 85% of its stores operated by franchisees, the statement said.
Caltex is a brand name of Chevron Corp.
