Yes, CTX is looking really good. The premium grade fuels at Lytton. The import distribution from Singapore.
The margin gains are continuing to look good and seem to be getting greater protected as they are by the barriers to entry.
CTX cannot lose from the ACCC WOW- BP decision. If BP is allowed, margins will get even greater, barriers to entry will be greater and if not, CTX must be in the running for the BP divestment. Either way, CTX cannot lose.
Non-fuel revenue is picking up across Australia as well at the convenience store. Similar figures to Metcash/ IGA albeit from a lower base.
$35.50 now highly achievable IMHO.
TP=$35.50, page-60
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