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Johannesburg - The Bidvest Group [JSE:BVT] is looking to expand its food service business in Brazil, its CEO said on Monday.
"Latin America is one of the geographies we are looking at especially Brazil," Bidvest CEO Brian Joffe told Reuters.
Bidvest, which also operates in Asia and Europe, booked a 9.1% rise in half-year profit as solid demand from Asia offset a stronger rand and lower sales from its European business.
Shares in the company were 1.78% lower at R154.20 by 10:11, lagging behind a flat Top 40 [JSE:TOPI] blue-chip index.
Bidvest, whose businesses include auto retailing, shipping and food distribution, said on Monday headline earnings per share totalled 539.8 cents in the six months to end-December compared with 495c a year earlier.
Bidvest said sales rose 4.2% to R58.5bn, thanks to stronger demand for new vehicles at home and rising demand for catering services in Asia.
The company has been helped by exposure to fast-growing markets such as Asia, which have largely escaped the worst of the global downturn.
Bidvest, which makes more than a quarter of its sales overseas, said its European operations would be under pressure for the rest of the year.
"Latin America is one of the geographies we are looking at especially Brazil," Bidvest CEO Brian Joffe told Reuters.
Bidvest, which also operates in Asia and Europe, booked a 9.1% rise in half-year profit as solid demand from Asia offset a stronger rand and lower sales from its European business.
Shares in the company were 1.78% lower at R154.20 by 10:11, lagging behind a flat Top 40 [JSE:TOPI] blue-chip index.
Bidvest, whose businesses include auto retailing, shipping and food distribution, said on Monday headline earnings per share totalled 539.8 cents in the six months to end-December compared with 495c a year earlier.
Bidvest said sales rose 4.2% to R58.5bn, thanks to stronger demand for new vehicles at home and rising demand for catering services in Asia.
The company has been helped by exposure to fast-growing markets such as Asia, which have largely escaped the worst of the global downturn.
Bidvest, which makes more than a quarter of its sales overseas, said its European operations would be under pressure for the rest of the year.
