Vivo Energy stock rallies after 118% jump in half-year profit
TLDR
- Vivo Energy CI's stock rose nearly 18% last week to 955 FCFA following impressive half-yearly performance figures.
- The company reported a 118% increase in net profit, reaching 2.55 billion FCFA for the first half of 2024.
- Revenue reached FCFA 298.1 billion, a 4% increase from the same period last year, with operating profit soaring by 96% to reach FCFA 5.7 billion.
Impressive half-yearly performance figures posted by Vivo Energy CI positively impacted its stock, which rose nearly 18% last week to 955 FCFA, breaking a series of three consecutive declines.
The company (SHEC), listed on the BRVM, reported a net profit of 2.55 billion FCFA ($4.2 million) for the first half of 2024, up 118% from 1.17 billion FCFA in the same period last year.
Revenue as of June 30 reached FCFA 298.1 billion, marking a 4% increase from FCFA 287.6 billion recorded during the same period last year. Operating profit soared by 96% to reach FCFA 5.7 billion, compared to FCFA 2.9 billion in mid-2023.
Key Takeaways
Vivo Energy CI specializes in distributing oil products. The group's products include primarily lubricants, diesel, fuel and gasoline. SHEC began the year with a share price of 790 XOF and has since gained 20.9% on that valuation, ranking it 12th in year-to-date performance. It is currently the 29th most valuable stock on the BRVM with a market capitalization of XOF 60.2 billion. Read our analysis of the company's latest financials here.
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