StockMarketWire.com - Africa-focused fuel retailer Vivo Energy booked an 88% drop in first-half profit after Covid-19 lockdowns discouraged travel.

Net profit for the six months through June fell to $13m, down from $72m on-year, as revenue dropped 14% to $3.38bn.

Vivo Energy did not declare an interim dividend, but said it planned to restart payouts later in the year, if an improvement in trading continued.

'While we are encouraged by the improvement in trading in June, and trading to date in July, and believe it may be sustained, we remain cautious,' the company said.

'Increased infection rates may delay further relaxation of measures, or lead to targeted new measures in certain countries, with the potential knock-on impact on mobility.'

'Given the ongoing level of uncertainty, the board does not yet believe it is appropriate to provide updated guidance.'


At 9:06am: [LON:VVO] Vivo Energy PLC share price was +1.6p at 76.5p



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