THE G SPOT
Bidvest: Much more than a GDP proxy
Despite our comatose economic reformers, SA Inc is far from dead — witness the killer interim numbers from industrial giant Bidvest
09 March 2023 - 05:00
It’s not often you see a JSE Top-40 share rally 15% in a day, as Bidvest did this week. Clearly, SA Inc is far from dead despite the body blows delivered by interminable power cuts, municipal disarray and the feeble attempts at economic reform under Cyril Ramaphosa’s presidency. Bidvest stock is now almost 25% higher, year to date; over three years the total return to shareholders sits at 56%. On a 14% rise in first-half revenue to R57.2bn, Bidvest managed to wring out higher trading profit (up 14.5%) and dividend growth, up 15%. The FM spoke to CEO Mpumi Madisa.
Were you stunned by the move?..
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