Bidvest lifts its final dividend by 25% after a busy year of organic growth and acquisitions

Edward West

BIDVEST Group’s diversified industrial service, trading and distribution businesses generated a solid performance in the year to June 30 and there were indications that market conditions in all the territories where it operates should start improving, CEO Mpumi Madisa said yesterday. Five of its seven divisions reported profit growth, four of those with double-digit profit increases, she said in an interview. The formation of a Government of National Unity was one indicator of a more business-friendly environment in South Africa, she added. The final dividend was raised 25% to 447 cents a share, bringing the total for the year higher by 4.3% to 914c. Group revenue increased 6.5% to R122.6 billion, while normalised headline earnings a share increased by 4.3% to 1964.8c. Bidvest has come out of a…

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Cape Times (Digital) - 1 Issue, 2024-09-03

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