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Bidvest lifts FY18 HEPS despite volatile market

By: Simone Liedtke     3rd September 2018 JSE-listed services, trading and distribution company Bidvest on Monday declared a final dividend of 301c a share, bringing the total dividend for the financial year ended June 30 to 556c, amid a volatile market, which the company said was characterised by weak economic growth and consumer spend,... 

Bidvest appoints new CFO, H1 headline earnings increase 13.4% y/y

By: Simone Liedtke     26th February 2018 Despite continued economic headwinds, South African services, trading and distribution company Bidvest achieved a 13.4% year-on-year increase in headline earnings for the six months ended December 31, to R1.9-billion, while headline earnings a share increased by 12.5% year-on-year to 574c.... 

Alten Hulme

16th February 2018 This week we feature Alten Hulme, chief sales and marketing officer of Konica Minolta South Africa, an office automation and business solutions company.   

Bidvest FY17 performance improves, shows resilience, says CEO

By: Natasha Odendaal     28th August 2017 JSE-listed Bidvest improved its financial performance for the year ended June 30, revealing the benefits, particularly within the South African trading operations, of its well-diversified portfolio following its unbundling of Bid Corporation (Bidcorp) - rebranded as Bidfood - last year. As the... 

Bidvest makes R2.7bn play for Irish facilities management group

By: Natasha Odendaal     31st July 2017 JSE-listed Bidvest has entered into an agreement to acquire 100% of Ireland-based integrated facilities management group Noonan from Alchemy Partners and Noonan’s current management team for an enterprise value consideration of R2.7-billion. Noonan operates in Ireland and the UK, where 40% of its... 

Bidvest lifts H1 headline earnings, revenue

By: Anine Kilian     27th February 2017 JSE-listed Bidvest’s headline earnings increased by 5.6% to R1.7-billion for the six months ended December 31, while revenue increased 4.1% to R3-billion. Despite the competitive and difficult operating environment, five of the group’s divisions managed to maintain or increase margins through... 

Bidvest can tap $1bn for deals outside South Africa

By: Bloomberg     3rd February 2017 Bidvest Group is seeking deals outside its South African home market and could borrow as much as $1-billion for acquisitions after it spun off its food-services unit last year, its CEO said. 

Bidvest expands Commercial Products division through Brandcorp acquisition

By: Anine Kilian     17th June 2016 JSE-listed Bidvest has acquired industrial and consumer products supplier Brandcorp from Ethos Private Equity for an undisclosed amount. In a statement released on Friday, Bidvest said the acquisition presented an attractive investment opportunity that was aligned with Bidvest’s strategy of... 

Unbundling of Bidvest Food service aims to create focused growth platform

By: Mia Breytenbach     11th March 2016 The unbundling and separate listing of JSE-listed Bidvest’s Foodservice will be “a great opportunity” for the business to refocus, expand its international footprint and continue its growth path, states founder and outgoing CEO Brian Joffe. Successful completion of the proposed transaction for... 

Bidvest lifts H1 earnings, despite challenging markets; Joffe to step down as group CEO

By: Mia Breytenbach     29th February 2016 Notwithstanding “a backdrop of challenging market conditions, particularly in the Southern African region”, JSE-listed Bidvest’s headline earnings a share rose 13% to R10.02c, while basic earnings a share rose 7.8% to 930.9c for the six months to December 31. Headline earnings rose 14.7% to... 

Adcock reshuffles management

By: Natasha Odendaal     12th November 2015 Following on the momentum gained from several strategic initiatives over the past two years to arrest and reverse plunging earnings, pharmaceutical company Adcock Ingram has reshuffled its board. With the embattled group preparing for its “next phase of growth”, current lead independent director... 

Bidvest restructures into three operating companies

By: Natalie Greve     7th October 2015 The Bidvest group is streamlining its business structure into three distinct and independent companies, each with its own statutory board of directors comprising senior executive management and independent directors, describing the move as an effort to improve management focus, identify... 

Bidvest to cut ties with Budget car rental

27th January 2015 Bidvest Car Rental, a subsidiary of Bidvest Group, would cease to operate as Budget car, van and truck rental in Southern Africa from February 28. Bidvest had managed the Budget car and van rental franchise in the southern Africa region for more than 20 years but the parties had decided to part... 

Bidvest’s Joffe to chair Adcock

By: Natasha Odendaal     26th February 2014 Bidvest CEO Brian Joffe has been appointed nonexecutive chairperson of pharmaceuticals group Adcock Ingram after Bidvest and the Public Investment Corporation (PIC) demanded the resignation of nonexecutive director and chairperson Dr Khotso Mokhele. Mokhele resigned last week after Adcock... 

Bidvest eyes growth opportunities in rest of Africa

By: Idéle Esterhuizen     27th August 2012 Diversified industrial group Bidvest would focus on organic growth in the next financial year, but its longer-term focus would shift to a mix of organic and acquisitive growth, as it seeks opportunities in Africa. Divisional chief executive Lindsay Ralphs said on Monday that Bidvest had modified... 

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