Viva Energy’s convenience sales declined 4.4 per cent year over year to $259 million in the first quarter.
The company attributed the lower turnover to the divestiture of 25 Coles Express sites to Chevron, the timing of Easter in March, and lower tobacco sales.
However, the company said its acquisition of OTR Group provides a platform to boost its convenience business.
Last December, the Australian Competition and Consumer Commission said it would not oppose Viva Energy’s acquisition of OTR Group after accepting an enforceable undertaking that the fuel company would divest its 25 Coles Express sites in South Australia.
Viva Energy chose to divest the Coles Express sites to Chevron and in exchange, will receive 13 Chevron sites located in Queensland, NSW and WA.
