Bidvest cleans up during pandemic
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Industrial conglomerate Bidvest, the operations of which span from cleaning services to property interests, upped its interim dividend after experiencing strong demand for hygiene-related services during Covid-19.
The group raised its interim dividend 2.8% to 290c per share in its six months to end-December, about a R987m payout, benefiting from strong demand for Covid-19-related work.
Trading profit from continuing operations grew 3.5% to R4.1bn, off a pre-pandemic base, enhanced by the consolidation of PHS, the UK’s biggest commercial cleaning service.
Group revenue grew 3.4% to R44.4bn, while cash generated from operations surged 86.2% to R6.2bn, amid focus on working capital management, as well as cost containment.
Trading profit in the group’s services segment — about 30% of revenue — jumped 37.9% to R1.7bn.
Michaele Avery caught up with new CEO Mpumi Madisa, to talk about taking over the reins during a pandemic and where the margin value sits in the hygiene business and how the firm plans to deploy capital into value enhancing growth acquisitions.
The group raised its interim dividend 2.8% to 290c per share in its six months to end-December, about a R987m payout, benefiting from strong demand for Covid-19-related work.
Trading profit from continuing operations grew 3.5% to R4.1bn, off a pre-pandemic base, enhanced by the consolidation of PHS, the UK’s biggest commercial cleaning service.
Group revenue grew 3.4% to R44.4bn, while cash generated from operations surged 86.2% to R6.2bn, amid focus on working capital management, as well as cost containment.
Trading profit in the group’s services segment — about 30% of revenue — jumped 37.9% to R1.7bn.
Michaele Avery caught up with new CEO Mpumi Madisa, to talk about taking over the reins during a pandemic and where the margin value sits in the hygiene business and how the firm plans to deploy capital into value enhancing growth acquisitions.