Vivo Energy shares get boost as it beats expectations

The price of shares in FTSE 250 fuel distributor Vivo Energy (LON:VVO) has increased by 4.73% to 81.90p (as of 12:35 GMT) after reporting strong trading during the final quarter of 2020. Full year fuel volumes were 7% below the prior year, but management expect that adjusted EBITDA will be ahead of previous guidance.

CEO Christian Chammas commented: “The COVID-19 pandemic had a significant adverse impact on our business in the first half of 2020. Since then the group has recovered strongly, with the second half in line with the comparable period in 2019, and this positive performance has continued into 2021. As a result, we are cautiously optimistic, and believe that we are well positioned for the future due to our leading positions in structural growth markets, together with our diversified and resilient business model. This is reflected in our commitment to shareholder returns through our progressive dividend policy. We look forward to providing a further update with our full year results on 3 March“.