Bidvest increases interim trading profit

CAPE TOWN – A strong performance offshore, with the South African operations holding their own, saw Bidvest Group lift its interim trading profit 19.8 percent to R4billion as it eyes opportunities to expand its hygiene-services business globally.

“We are pleased with this six-month result, especially the increased trading profit, improved gross and operating margins as well as excellent cash generation,” chief executive Lindsay Ralphs said yesterday.

The group had made a timeous R10bn acquisition in PHS, the number one hygiene provider in the UK and in Spain, said Ralphs.

Bidvest said that it saw the outbreak of the coronavirus as an opportunity to expand its hygiene-services business globally.

“Even though the coronavirus has been devastating in many cases, it has highlighted the need for better hygiene across the world,” Ralphs said.