Distribution, trading and services South African Group Bidvest has managed to obtain increased headline earnings by 6.2 per cent, to ZAR 3.7 billion (USD 283 million) for the financial year ended June 30 despite the lack of economic growth, declining consumer spend as well as significant business and political uncertainty.
“We are evolving successfully following last year’s unbundling of the food service businesses. The benefits of our diversified portfolio and the quality of the underlying businesses are evident in the performance of the trading operations where five of Bidvest’s seven divisions, as well as Bidvest Properties, delivered growth in trading profit,” pointed out Bidvest Chief Executive Lindsay Ralphs.
The firm’s South African operations delivered improve...
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