Trading profit grew 25% to around R5bn in the half-year ending December 2021. Bidvest Moneyweb results finance
It’s a pattern that is replicated across many parts of the economy – the Covid crash in March 2020 followed by a rebound few thought would be as vigorous and prolonged as it was. Bidvest’s financial results for the six months to December 2021 are further testament to that trend. Revenue was up 12.9% to R50.2 billion, but fatter margins translated into trading profit growing 25% to around R5 billion. Headline earnings per share were up 37% to 813.
4 million, despite business interruptions in July 2021 from riots in KwaZulu-Natal and Gauteng. Demand was robust from customers in the mining, agriculture, renewable energy, select industrial segments and luxury goods, while general public infrastructure demand remains absent. “Commercial products grew revenue by about 3%, which was not as strong as other divisions,” says Madisa.
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