Bidcorp’s positive world view
Zero food inflation in most regions helped
Bid Corporation, the recent foodservice spin-off of the Bidvest Group, says overall trading conditions in the global industry remain positive, providing growth opportunities in all the company’s geographies. The company, which met with shareholders and analysts on Thursday to update them on market conditions, said that many of its international foodservice peers have reported improved results on good underlying market conditions. In addition, currency volatility has positively affected Bidcorp’s rand reported results. "Overall trading within Bidcorp for the first four months of financial … 2017 has been good and the positive momentum achieved in the financial year 2016 has continued," the company said in a statement. This had been achieved against a backdrop of zero food inflation in most operational geographies — except SA and Brazil — amid "relatively benign economic conditions globally". The depreciation of the rand against the euro and Australian dollar had more than offset the ...
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