Aug 2 (Reuters) - Vivo Energy, Vitol’s Africa venture, reported an 8 percent rise in half-year core profit thanks to higher volumes, in its first set of results since it listed in May.
The company, which distributes and markets Shell-branded fuels and lubricants to retail and commercial customers in Africa, said it was on track to open its targeted number of service stations and non-fuel retail outlets for the year.
It also said it continues to expect annual volume growth to be within its target mid-single digit percentage range, with broadly stable gross cash unit margins.
Adjusted earnings before interest, tax, depreciation and amortization rose to $204 million in January-June, from $189 million a year earlier.
Reporting by Arathy S Nair in Bengaluru Editing by Susan Fenton