H1 Profit Dips for Viva Energy Group amid Challenges

August 26, 2019 12:36 PM AEST | By Team Kalkine Media

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Viva Energy Group Limited (ASX:VEA) reported a profit of $78 million for the interim period closed on 30 June 2019, down from $129.6 million recorded during the same period a year ago. The decline can be attributed to challenging conditions of the market. However, the profit of the first half is towards the upper end of the companyâs revised profit outlook for H119, which was between $60 million- $80 million. As a result, the company has given a cautious guidance for H2.

Viva Energy mentioned that it is committed to competitive retail fuel prices, which is in accordance with the goal to grow the sales via the alliance to 70 million litres per week and then shift towards 75 million litres per week.

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