Bidcorp’s maiden full-year results show the company got off to a blistering start as a JSE-listed entity. The company, which was spun out of Bidvest in May 2016, reported a near double-digit rise in earnings despite difficult trading conditions in some key operations. Bidcorp operates in the UK, Europe, Australasia and a number of emerging markets including SA. The UK and SA, with their struggling economies, have proved to be difficult markets for local companies. "There is growth to be had in the UK and in SA. The world doesn’t seem to be in a terrible place in general," said CEO Bernard Berson on Thursday. "There is no magic answer as to why we continue to perform well. We are very focused on what we do and we invest for growth. We are also quite fortunate that we are in the food business, which is more resilient and less cyclical than other categories," said Berson. In view of 2016’s separation from Bidvest, Bidcorp provided pro forma information. The information was used as a ba...
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