Viva profits to down over retail margin losses

VIVA Energy’s shareprice plummeted more than 6.3% this afternoon after it released financial guidance declaring a fall in profits of up to A$94 million or 41% over the previous year this year, thanks to lower refining margins and increased competition as well as lower exchange rates. 

Viva profits to down over retail margin losses Viva profits to down over retail margin losses Viva profits to down over retail margin losses Viva profits to down over retail margin losses Viva profits to down over retail margin losses

Shareprice plummets in afternoon trade 

Underlying net profit after tax on a replacement cost basis is anticipated to drop from $229 million last year to as low as $135 million to $165 million this year.
  • FREE coverage of the coronavirus pandemic. Visit our COVID-19 hub
  • NEW: 2020 Social Licence Report - where is the industry heading? Read more
  • EMAGAZINE: ENB's latest special print edition is now online. Read here