Vivo Energy expecting its sales volumes to grow
This comes after the group reported a 15percent increase in sales volumes for the third quarter to end September, driven by the contribution of Engen-branded markets.
The group said on Friday that year-to-date group volume growth increased to 10percent compared to the same period last year and it continued to expect volume growth for the full year, including the Engen-branded markets, to be within its guidance range of low to mid double-digit percentage growth.
Its gross cash profit was up by 13percent to $189million (R2.76billion) year-on-year and up 4percent quarter-on-quarter, driven by higher volumes and stable margins.
Chief executive Christian Chammas said they were pleased to have delivered another record quarter, with gross cash profit increasing by 13 percent year-on-year to $189m.
Source: iol.co.za
