The Viva Energy Group Ltd (ASX: VEA) share price climbed 3% to $2.095 today after the petrol refiner and retailer told investors it expected a net profit between $60 million to $80 million on adjusted EBITDA between $150 million to $180 million for the first half of calendar year 2019. The group also noted that these estimates are before "significant items" that are currently expected to be "less than $5 million."
The company reports on a calendar year basis and stated that total sales volumes for 1H2019 are expected to be between 7,050 to 7,150 million litres, up approximately 2.0% on 1H2018, which is broadly in line with its prospectus forecast for sales of 7,169 litres.
The stock is likely climbing higher today despite the company only reaffirming previous guidance after its petrol refining and retailing rival Caltex Australia Ltd (ASX: CTX) last week blamed terrible trading conditions for a big profit downgrade.
