Caltex Australia Ltd, the only listed oil refiner of Australia, posted a growth of 9% in its net profit for the year 2009. But the biggest oil refiner of the nation is very cautious for the coming year as the timing of the recovery in oil demand is still uncertain.

Caltex reported a net profit of A$203 million for FY 2009, increasing by 9% from the previous year figures of net profit as in FY 2008 the company posted a net profit of A$186 million. The profit posted by the company meets the expectations of the market analysts. The profit for FY 2009 also includes A$121 million in write downs.

While on a historical cost basis the net profit was reported A$314 million for the fiscal comparing with A$34 million which the company posted in FY 2008.

The company saw a decrease of 25% in total revenue for the year as total revenue was posted A$17.98 billion. The decrease in the revenue was mainly attributable to the lower prices as in 2009 crude oil price also reported reduced to a record level. However, the company reported the transport fuel production of 10.2 billion liters in the fiscal, increased by 4% as compared with 9.8 billion liters for 2008.

Though, the company posted a good FY 2009 results, the company is cautious about the outlook and sees the outlook very challenging for the near future as the company is not sure for the timing of the recovery in the global oil demand.