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BRIEF-Caltex Australia Says Cost-Out Program Is Being Implemented

Published 27/08/2019, 09:53 am
© Reuters.  BRIEF-Caltex Australia Says Cost-Out Program Is Being Implemented
Caltex Australia Limited
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Aug 27 (Reuters) - Caltex Australia Ltd CTX.AX :

* COST-OUT PROGRAM IS BEING IMPLEMENTED TO DELIVER A $100 MILLION PER ANNUM REDUCTION IN OPERATING COSTS BY END OF 2020.

* 2019 CAPEX GUIDANCE IS ALSO BEING LOWERED FROM $320-385 MILLION TO AROUND $300 MILLION

* FROM CONVENIENCE RETAIL NETWORK REVIEW, ABOUT 50 METROPOLITAN FREEHOLD SITES TO BE DIVESTED IN TRANCHES COMMENCING IN 2H 2019

* IN CONVENIENCE RETAIL NETWORK, PREVIOUSLY GUIDED UPLIFT TARGET OF $120M-$150M BY 2024 WILL NOT BE MET

* SEES 2019 DEPRECIATION & AMORTISATION $385 MLN - $410 MLN

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