{"id":814229,"date":"2025-02-26T11:07:15","date_gmt":"2025-02-26T09:07:15","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=814229"},"modified":"2025-02-26T11:07:21","modified_gmt":"2025-02-26T09:07:21","slug":"bidcorp-gets-south-africa-and-uk-boost","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/814229\/bidcorp-gets-south-africa-and-uk-boost\/","title":{"rendered":"Bidcorp gets South Africa and UK boost"},"content":{"rendered":"\n

Bidcorp has delivered a strong performance in its latest financial results for the half-year ended December 31 2024, buoyed by strong performances in South Africa and the UK. <\/p>\n\n\n\n

The food services group said that it was able to increase revenue by 7.1% in constant currency despite the challenging economic and trading environment. <\/p>\n\n\n\n

After adjusting for relevant food-basked inflation and acquisitions, the business has grown by around 5% in real terms.<\/p>\n\n\n\n

Currency volatility negatively impacted the rand’s financial performance by 4.0%. Headline earnings per share jumped by 6.0% to 1,221.6. At a constant currency level, it would have increased by 10.0%.<\/p>\n\n\n\n

However, basic earnings per share declined by 2.0% to 1,120.7 cents per share primarily due to the non-cash losses incurred on the exit of our German operations.<\/p>\n\n\n\n

The group said that the UK delivered an improved performance in its core food service operations, which benefitted from an acquisition to supplement the regional independent activities.<\/p>\n\n\n\n

The Emerging Markets section also saw a strong performance from the South African businesses. That said, the group said that activity in Greater China remains subdued by the macro environment.<\/p>\n\n\n\n

The European business also performed well under challenging macro conditions, with growth in revenues and trading profits.<\/p>\n\n\n\n

Although trading conditions in Australasia were also challenging, Australia and New Zealand still delivered solid trading performances.<\/p>\n\n\n\n

The group said that activity levels in Q1 were impacted by unseasonably cold and wet September weather in the Northern Hemisphere and extreme weather-related flooding in Eastern Europe.<\/p>\n\n\n\n

Although this was a detriment to the group’s UK and European businesses, improvements were going into Q2 and the festive season. <\/p>\n\n\n\n

“Food inflation has disappeared, however, cost inflation remains sticky, driven by ongoing wage pressures from labour availability, particularly in the warehouse and driver categories.”<\/p>\n\n\n\n

“As economic conditions have tightened in many geographies, customers have become more price-sensitive and competition has increased,” said the group. <\/p>\n\n\n\n

“Investment activity, primarily into new distribution capacity, has continued to cater for current and future growth. Acquisition activity has increased with eight bolt-on opportunities concluded in the period.”<\/p>\n\n\n\n

The group declared an interim cash dividend of 560 cents per share for the half-year ended December 31 2024. This was an increase of 6.7%. <\/p>\n\n\n\n

Financials<\/strong><\/td>H1 2024<\/strong><\/td>H1 2025<\/strong><\/td>% Change<\/strong><\/td><\/tr>
Revenue (R’000)<\/td>113 802 770<\/td>117 947 889<\/td>+3.6%<\/td><\/tr>
Trading profit (R’000)<\/td>5 862 727<\/td>6 263 610<\/td>+6.8%<\/td><\/tr>
Basic Earnings per share (cents)<\/td>1 143,8<\/td>1 120,7<\/td>-2.0%<\/td><\/tr>
Headline Earnings per share (cents)<\/td>1 152,4<\/td>1 221,6<\/td>+6,0<\/td><\/tr>
Interim dividend<\/td>525,0<\/td>560,0<\/td>+6.7%<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n
\n
\"\"<\/a><\/figure><\/div>","protected":false},"excerpt":{"rendered":"

Bidcorp has upped its interim dividend despite the challenging operating conditions in many of its markets. <\/p>\n","protected":false},"author":95,"featured_media":814244,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[11851],"class_list":["post-814229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-bidcorp"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/814229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=814229"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/814229\/revisions"}],"predecessor-version":[{"id":814256,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/814229\/revisions\/814256"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/814244"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=814229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=814229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=814229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}