Bidvest posts impressive full-year results with revenue up by more than 6%
Group revenue grew 6.7% to R122.6 billion, while trading profit increased by 8.5% to R12.4 billion.
Stephen Grootes speaks to Mpumi Madisa, CEO at Bidvest.
Listen to the interview in the audio player below.
Bidvest has delivered a solid performance for the year-ending June 2024.
Five out of the Group's seven divisions reported profit growth with four delivering double-digit increases.
Group revenue grew 6.7% to R122.6 billion (FY2023:R114.9 billion), while trading profit grew by 8.5% to R12.4 billion, with acquisitions boosting growth by 2.9%.
Cash generated from operations is up by 15%.
Speaking to Stephen Grootes on The Money Show, Mpumi Madisa, CEO at Bidvest says the results are not only a positive indicator for the Group, but for the economy at large.
She says there are signs of an economic recovery, following the 2024 general elections as well as an improvement in terms of loadshedding.
"From a macro perspective, I think there are a couple of things that are certainly green shoot."
- Mpumi Madisa, CEO - Bidvest
"Personally from a Bidvest perspective, we are now more confidently investing in our factories, in our production. We're looking at increasing more branches and retail stores."
- Mpumi Madisa, CEO - Bidvest
"...all of this just talks to continued investment in the country. Continuity around power is important, and we've got that, and I don't think we should take that for granted."
- Mpumi Madisa, CEO - Bidvest
Scroll to the top of the article to listen to the full interview.