Bidvest CEO pleads for end to disruption of key economic institutions
BIDVEST released on Monday morning its first results since unbundling its food division into separately listed Bidcorp in May. The previous year’s figures were restated, with the divisions now housed in Bidcorp accounted for as discontinued operations. The smaller group said revenue for the year to end-June grew 3.5% to R91.8bn but aftertax profit for the year from continuing operations fell 28.5% to R2.4bn. A final dividend of R2.32 was declared, taking the dividend for the year to R7.14. Although down from the previous year’s R9.09, the company said this "needs to be viewed in the context of the interim dividend of R4.82 which was paid as part of the larger group, prior to unbundling". READ THIS: POINT OF ORDER: The latest cost of Jacob Zuma CEO Lindsay Ralphs included in his commentary an appeal for an end to disruption of key economic institutions. "As one of SA’s largest employers and a significant investor in the local economy, Bidvest shares the concerns that have been raised...
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