Bidvest CEO on SA’s ‘basket-case economy’
The industrial services giant managed to achieve a 9.8% increase in headline earnings for the year ended June, and to generate R7.1bn in cash across its many businesses, despite SA’s limping growth
Industrial services giant Bidvest has managed to achieve a 9.8% increase in headline earnings for the year ended June, and to generate R7.1bn in cash across its many businesses, despite SA’s limping growth. But the company is keen to direct capital from noncore assets to "internationalising niche services". The FM asked CEO Lindsay Ralphs whether SA’s basket-case economy is an incentive for this strategy.
We have disposed of a whole bunch of noncore assets [but] we’re not specifically redirecting those funds overseas, it’s just part of our basket of funding. Our debt levels are very low, they will reduce a bit further and we have mentioned that something like Comair is not core and we’d like to dispose of that...
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.