Bidvest half year profits increase by 12%, hire new CFO

JOHANNESBURG- Bidvest a Trading, distribution and services group has announced that their new chief financial officer (CFO) and executive director from March 1, is Mark Steyn replacing Peter Mejir..

Their headline earnings per share increased by 12.5% to 534 cents per share in their half year to December 2017, trading to grew of 12% to R3.1 billion.

The company said, “This again demonstrates the benefits of Bidvest’s robust and diverse operating units, which collectively serve many key sectors of the South African economy.”

“All the South African trading operations apart from Automotive grew profits, while Bidvest Namibia delivered a disappointing performance.”

“Most divisions within Bidvest are ideally positioned to take advantage of a revival in economic growth and investment,” it said.

“The group’s financial position is strong and a robust balance sheet with adequate headroom is ideally positioned to support our growth ambitions.”

Photo Credit- Business Tech

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