* Says Q1 operating up 33 pct to A$130 mln on strong margins
* Margins deteriorating; cautious on H2
* Decision soon on acquisition of ExxonMobil service
stations (Recast, adds details)
PERTH, April 22 Shares of Caltex Australia Ltd
(CTX.AX), the country's largest oil refiner, fell more than 3.5
percent on Thursday after the company said its short-term
margin outlook was challenging.
Caltex said its first-quarter operating profit jumped 33
percent to A$130 million on healthy margins, but cooled
expectations as margins trends have reversed in recent weeks
and demand looked weak.
"While the short term outlook for Caltex is challenging
because of depressed demand globally and growth in global
refining capacity, the medium to long term outlook for the
company remains positive," Managing Director Julian Segal said
at the company's annual general meeting.
At 0118 GMT, Calex shares traded down 3.1 percent at
A$11.89 after falling to a low of A$11.82 earlier.
Caltex said its replacement cost of sales operating profit,
which strips out the impact of oil price fluctuations, was
A$130 million ($120.5 million) in the quarter ended March,
compared with A$98 million the same last year.
Caltex also said it expects to announce its decision
shortly on what action it would take on its proposed
acquisition of ExxonMobil (XOM.N) gas service stations in
Australia, which was blocked by the competition regulator in
For the company's report to Thursday's AGM, click:
(Reporting by Fayen Wong)