Johannesburg - South African industrial conglomerate Bidvest
Group [JSE:BVT] beat estimates posting a 27.5% rise in full-year profit on
Monday, lifted by proceeds from the partial sale of its stake in Mumbai
International Airport and favourable currency swings.
Bidvest, whose business include food distribution, auto
dealerships and shipping, said diluted headline earnings per share totalled
1,470.8 cents in the year to end-June, above a 1,367 cents estimate in a
Reuters poll of 11 analysts.
The company sold half of its 27% stake in Mumbai
International Airport late last year, earning R400m from the deal.
Bidvest, which makes more than a quarter of its sales
overseas, said revenue increased 12.7% to R133.5bn.
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