More than just a barometer
Bidvest after Joffe. Good for investors?
Bidvest’s bid to outperform the economic cycle and not just reflect SA’s state of health
Putting on an upbeat show for investors at the presentation of Bidvest’s annual results to June, CEO Lindsay Ralphs assured attendees: "We do think generally speaking that we have the ability to outperform the [economic] cycle." Bidvest will have to if its performance is not to continue to be very much a barometer of the country’s state of health. The results were the first for a full year since Bidvest spun off its international food distribution business, Bidcorp, on May 30 last year.The move left the R71bn annual revenue Bidvest with its seven services, distribution and trading divisions giving it linkages to virtually every sector in the SA economy. They include cleaning services, facilities management, travel, electrical equipment, freight, automotive retail, power tools, home appliances, financial services and office equipment and stationery. If Bidvest does have the ability to outperform the economic cycle there was little evidence of it in its results to June. Revenue came i...
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.