Bid Corporation lifts headline earnings per share
CAPE TOWN - Bid Corporation, which lifted headline earnings per share (HEPS) of continuing operations a hearty 12.5 percent in the year to June 30, said demographics and industry drivers of the group’s food service markets remain positive.
Trading profit increased 11.8 percent to R6.7 billion, with good trading profit growth in Australasia, Europe and the UK. Cash generation before working capital was up 15.4 percent to R8 billion.
The final dividend for the international food service and technology group increased 17.9 percent to 330 cents per share. "It was a strong performance considering the volatile conditions of many of the group’s operating geographies," management said in a statement Wednesday.
HEPS came to 1 443,6 cents per share. In constant currency terms, HEPS grew 7.7 percent.
CE Bernard Berson said trading in most of their geographies remained positive, despite persistent low food inflation and moderate economic growth.
Good revenue growth and better gross margins helped offset cost pressures, particularly labour, energy and fuel.