October 25, 2019 / 6:56 AM / 19 days ago

Vivo Energy quarterly profit rises 13% on higher fuel sales

Oct 25 (Reuters) - African fuel retailer Vivo Energy Plc reported a 13% rise in gross profit for the third quarter on Friday as it sold more of its Engen- and Shell-branded fuel products.

Gross profit for the three months ended Sept. 30 rose to $189 million from $167 million a year earlier, propped up by a 15% rise in sales volumes.

Vivo Energy had bolstered its network of stations following the acquisition of a unit of South African retailer Engen Ltd in March.

The company, which operates in countries across Africa, said it was on track to deliver annual volume growth of low to mid double-digit percentage.

Reporting by Shanima A in Bengaluru; Editing by Arun Koyyur

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