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.
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