3 March 2021 | 08:01am
StockMarketWire.com - Africa-focused fuel retailer Vivo Energy booked a 40% drop in annual profit, owing to lower demand for petrol during the pandemic.
The company, however, also said it would increase its dividend payout ratio amid a recovery in trading conditions.
Net income for the year through December fell to $90 million, down from $150 million year-on-year, as revenue slid 17% to $6.92 billion.
Fuel volumes dropped 7% to 9.64 billion litres and adjusted operating profit fell 16% to $360 million.
Vivo Energy held its annual dividend steady at 3.8c per share.
Looking forward, the company said it experienced a swift recovery in the second half of 2020 and has growing confidence for the future, with the positive trends expected to continue into 2021.
12 February 2021 | 16:43pm
StockMarketWire.com - UK stocks closed significantly higher on Friday after it emerged coronavirus cases across the country are falling at the fastest pace in months.
The UK s R value has dropped below 1 for the first time since July, and the Government has confirmed it will issue its roadmap out of lockdown on 22 February.
The UK s benchmark FTSE 100 index gained 0.94% to 6,589.79, while the midcap FTSE 250 index swung into positive territory having spent most of the day in the red and closed 0.09% higher to 21,037.47.
In a day of little significant corporate news, airline and package holiday provider Jet2 fell 7.24% to £12.04 after it raised £422 million by issuing new shares at a 9% discount to last night s closing price to help see it through the crisis. The company said the fundraise was significantly oversubscribed .