Share

Bidvest grows earnings, trading profit

The Bidvest Group [JSE:BVT] has upped headline earnings by 11.9% to R4.1bn, while headline earnings per share (HEPS) increased by 11.1% for the year ended June 30, 2018, it announced on Monday.

In a stock exchange announcement, the trading, distribution and services group said HEPS had jumped from 1 108.2 cents in 2017 to 1 231.2 cents in 2018.

Bidvest also said revenue increased by 8.4% to R77bn, from R71bn in the previous reporting period, while trading profit grew by 8.2% to 6.5bn.

"[These were] strong result[s] in a volatile market characterised by weak economic growth and consumer spend, as well as significant business and political uncertainty," Bidvest said.

The group warned that, while it expected to achieve continued growth, a return to "more robust consumer spending" may have to wait until the results of the 2019 general election are known. 

"The main concern remains government's ability to drive infrastructural spending and the ongoing maintenance at certain key entities and facilities. It is incumbent on the state to initiate larger programmes of development to kick-start the South African economy," it said. 

Bidvest shares were trading R214.88 a share at 11:36 on the JSE on Monday, down 0.52% on the day. 

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.93
-0.0%
Rand - Pound
23.90
+0.0%
Rand - Euro
20.40
+0.1%
Rand - Aus dollar
12.32
+0.1%
Rand - Yen
0.13
+0.0%
Platinum
908.05
+1.2%
Palladium
1,014.94
+1.3%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders