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Bidvest food division expects 'good' FY results

6 May 2016

Industrial group Bidvest said on Thursday that trading conditions across its soon-to-be listed food services unit were positive and expected good results in the year to June.

Image credit: Reuters

Bidvest is planning to unbundle its food services business and will list it on the JSE on 30 May as BidCorp, pending approval from shareholders.

The company said the subsidiary managed to turn in a good financial performance despite a "backdrop of zero food inflation, in relatively negative circumstances globally".

The food service division operates in many geographies, including the UK, Europe and Asia, where it still sees growth potential.

"Management is highly motivated by the challenges and opportunities presented by the unbundling from Bidvest and are excited about continuing to grow off the current solid platform," Bidvest said.

Source: Business Day

Source: I-Net Bridge

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