The Bidvest Group Limited |
An investment holding company. The strategy of the group is to be invested in companies operating in the field of food, catering and related products, freight, packaging and hygeine services.
The group's trading performance was creditable, with turnover rising 20% to R5.07-billion.
These results were obtained under difficult trading conditions where
high levels of personal tax, combined with record real interest rates and a resurging upward trend in fuel prices curtailed consumption expenditure, while the anticipated mini-boom in tourism failed to materialise under the pressure of increased domestic crime.
The group is confident that their divisions are well positioned for continued improvement and that the group will again achieve a real growth in earnings in the new year.