Bidcorp open to acquisitive and organic growth opportunities
Africa’s second-largest retailer manages to fend off tough trading conditions in the year to end-December with tight cost control
23 February 2017 - 10:26
Food services group Bid Corporation (Bidcorp), which was unbundled from industrial conglomerate Bidvest Group, grew its interim revenue 5% to R67.8bn, the company said on Thursday. Net profit after tax grew 21% to R2bn from R1.5bn in the matching period. Bidcorp indicated that it saw its future as a food service provider, as opposed to a logistics operator. "Our financial position is strong, cash generation is expected to remain robust and we retain significant headroom to accommodate expansion opportunities, both acquisitive and organic," the company said in its results statement.
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