Bidcorp’s small exposure to SA allows it to sidestep listeria crisis
The geographical spread of food producer Bid Corporation (Bidcorp) appears to have helped it sidestep the South African woes of its smaller rival, Tiger Brands.SA’s listeriosis crisis had material effects on Bidcorp’s South African business Crown Food Group, and to a lesser extent Bidfood, it said in its results statement for the year to end-June, which was released on Wednesday.But considering its emerging-markets division, which houses its South African businesses, contributed just 16% of its revenue and 17% of its trading profit, SA’s listeriosis crisis had little effect on the group’s overall figures.A third of Bidcorp’s revenue came from its Europe division, which excludes the UK. Europe was its star performer, growing revenue 22% and trading profit 38%.In continental Europe, Bidcorp focuses on what it terms "horeca" — a service industry jargon word created from hotel, restaurant and café — offering an online service branded "My BidOne".While Australasia contributes only a quar...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.