CALTEX OIL AUSTRALIA
Further Loss Last Year (N.Z Press Assn.—Copyright) MELBOURNE, May 15. Caltex Oil (Australia), Pty. Ltd., incurred a further loss of 1,652,091 dollars in the year to December 31. Last year’s loss amounted to' 1,085,294 dollars while in 1963 the company lost 948,814 dollars. A complete picture of the Caltex group of Australian companies cannot be seen until the results of the subsidiary, Australian Oil Refining, Pty. Ltd., are known. Last year this subsidiary earned 896,420 dollars, compared with 2,347,076 dollars in the previous year. The latest result was struck after a sharp drop in taxation from 684,918 dollars to nil. Depreciation was up from 3,549,038 dollars to 3,954,772 dollars.
In the report, directors said the loss again reflected the highly competitive nature of the market.
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Bibliographic details
Press, Volume CV, Issue 31060, 16 May 1966, Page 18
Word Count
128CALTEX OIL AUSTRALIA Press, Volume CV, Issue 31060, 16 May 1966, Page 18
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