Cash-flush Vivo says Covid-19 third wave effects have been muted
Core profit jumped 57% in its six months to end-June, with the third wave having a muted effect on demand in most African countries
27 July 2021 - 12:50
Petroleum company Vivo Energy, which operates the Shell and Engen brands in 23 African countries, has proceeded with a $21.5m (R320m) shareholder payout, saying it has seen a robust recovery for retail fuel demand, while the effects of a third wave in Africa have so far been limited.
A sharp rebound from mobility restrictions in 2020 helped prompt an 18% year-on-year rise in revenue to $3.99bn in the six months to end-June 2021, when core profit rose 57% to $220m, which is 4% above pre-pandemic levels...
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