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‘Fierce’ competition not a worry, Caltex to give back $260m

Article image for ‘Fierce’ competition not a worry, Caltex to give back $260m

Caltex will give back $260 million to shareholders, after a rise in its share price.

The fuel giant released its full-year profit revealing a five per cent increase in share prices.

It comes after a 12 per cent profit loss from the previous year.

Caltex CEO Julian Segal tells Ross Greenwood although there’s competition in the market, it’s not a top priority.

“The competition has always been fierce.

“We’re not trying to lessen the competition, all that we are doing is becoming better at offering more to the customer.”

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