It was part of the Bidvest group until the unbundling in 2016. Since then it has been operating as an independent food service company in 37 countries across the developed and emerging markets with the more significant part of their profits coming from the developed markets. Last week the company delivered a solid set of results. This is a quality business with a highly experienced management team who follows a robust strategic approach.
Australia and New Zealand
This segment provides for 33percent of the group’s trading profit with the highest trading margin (6.6percent). Although the net sales increased by 4.8percent in Australia, the trading profit increased by only 2.5percent due to some once-off costs which incurred because of metro expansion. The expansion into areas like Melbourne positions Bidcorp for some scope to introduce value-added services in this region. In New Zealand, sales growth of 9.1percent was seen with profit picking up a healthy 9.6percent.