Bidvest says six out of its seven divisions achieved real trading profit growth with many individual businesses recording record months during the period under review.
Bumper activity in the agriculture, mining, renewable energy and travel and tourism industries helped boost half-year profits of diversified industrial conglomerate Bidvest by double-digits, but it warned that disposable income pressure on consumers is expected to intensify throughout the year.
Against a backdrop of a high inflationary trading environment and incremental energy and distribution costs, Bidvest reported six out of its seven divisions achieved real trading profit growth with many individual businesses producing record months during the period under review. Bidvest Bank was the main driver of the improved performance augmented by FinGlobal, adding that capital deployment at the bank accelerated resulting in higher net interest income.
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