Annual report home ► Downloads ►   The Bidvest Group Limited Annual report 2006 Commentary Value added statement Exchanges with government Directors’ responsibility for the financial statements Declaration by company secretary Report of the independent auditors Directors’ report Accounting policies Consolidated income statement Consolidated statement of recognised income and expenses Consolidated cash flow statement Consolidated balance sheet Notes to the consolidated financial statements Company income statement Company cash flow statement Company balance sheet Notes to the Company financial statements Interest in subsidiaries, joint ventures and associates   Interest in subsidiaries, joint ventures and associates for the year ended June 30           Company's interest    Issued Effective holdings Shares Indebtedness Major subsidiaries capital R’000 2006 % 2005 % 2006 R’000 2005 R’000 2006   R’000  2005 R’000 Catering supplies, food and allied products               3663 First for Food Service (Pty) Limited# * 100 100 – – –  –  BFS Group Limited (trading as 3663)(1) 396 128 100 100 – – –  –  Bid Foodservice (Europe) Limited(1) 132 046 100 – – – –  –  Bidbake (Pty) Limited# * 100 100 – – –  –  Bidfood (Pty) Limited# * 100 100 – – –  –  Bidvest (N.S.W) Limited(2) * 100 100 – – –  –  Bidvest (Victoria) (Pty) Limited(2) * 100 100 – – –  –  Bidvest (W.A.) (Pty) Limited(2) * 100 100 – – –  –  Bidvest Australia Limited(2) 843 100 100 – – –  –  Blue Marine Frozen Foods (Pty) Limited# * 100 100 – – –  –  Burleigh Marr Distributions (Pty) Limited(2) 69 100 100 – – –  –  C.C.W. Catering Supplies (Pty) Limited# * 100 100 – – –  –  Caterplus (Pty) Limited(2) * 100 100 – – –  –  Caterplus (Botswana) (Pty) Limited(3) * 100 100 – – –  –  Caterplus Namibia (Pty) Limited(4) * 100 100 – – –  –  Catersales (Pty) Limited# * 100 100 – – –  –  Chipkins Bakery Supplies (Pty) Limited# * 100 100 – – –  –  Chipkins Catering Supplies (Pty) Limited# * 100 100 – – –  –  Continental Spice Works (Pty) Limited# * 100 100 – – –  –  Crean Foodservice Limited(5) * 100 100 – – –  –  Crown Foods Group (Pty) Limited# * 100 100 – – –  –  Crown National (Pty) Limited# 10 100 100 10 10 (10) (10) D and R Lowe Catering Supplies (Pty) Limited# * 100 100 – – (312) (326) Deli Xl Belgie Nv(6) 771 447 100 – – – –  –  Deli Xl BV(7) 108 026 100 – – – –  –  Deli Xl SA(6) 18 168 100 – – – –  –  Everyday Foods (Pty) Limited * 100 100 1 003 1 003 –  –  First Food Distributors (Pty) Limited# * 100 100 – – –  –  Horeca Trade Llc(8) 594 80 – – – –  –  Hotel Amenities Suppliers (Pty) Limited * 100 100 – – –  –  International Bakery Ingredients (Pty) Limited * 100 100 19 647 19 647 –  –  John Lewis Foodservice (Pty) Limited(2) * 100 100 – – –  –  Lou’s Wholesalers (Pty) Limited# * 100 100 – – –  –  Lufil Packaging (Pty) Limited * 100 100 59 244 59 093 –  –  M & M Quality Choice (Pty) Limited# * 100 100 – – –  –  Modern Packaging (Benoni) (Pty) Limited# * 100 100 – – –  –  N Stephenson (Pty) Limited(2) 212 100 100 – – –  –  NCP Yeast (Pty) Limited# * 100 100 – – –  –  Patleys (Pty) Limited# * 100 100 – – –  –  Promo Sachets (Pty) Limited# * 100 100 2 480 2 480 (97) –  RFS Catering Supplies (Pty) Limited# * 100 100 – – –  –  Seaworld Frozen Foods (Pty) Limited# * 100 100 – – 2 429 2 429  The Barton Meat Company Limited(1) 1 51 51 – – –  –  Tri-Mark Industries (Pty) Limited * 100 100 4 044 4 044 –  –  Vulcan Catering Equipment (Pty) Limited# * 100 100 – – –  –                  Financial and related services               Bid Financial Services (Pty) Limited * 100 100 – – 90 000  90 000 Concorde Travel (Pty) Limited * 90 90 47 433 – –  –  Connex Travel (Pty) Limited 100 47 47 28 040 – 5 513  –  Namibia Bureau de Change (Pty) Limited(4) 500 51 51 – – –  –  Prestige Travel SA (Pty) Limited# * 100 100 – – –  –  Rennies Bank Limited 1 800 100 100 – – –  –  Rennies Travel (Namibia) (Pty) Limited(4) * 100 100 – – –  –  Rennies Travel (Pty) Limited * 75 75 1 151 502 –  –  Travel Connections (Pty) Limited * 60 60 9 119 9 064 –  –  Uniworld Travel (Pty) Limited# * 100 100 – – –  –  World Travel (Pty) Limited 3 350 100 100 7 306 – –  –                  Freight forwarding, clearing, distribution warehousing and allied activities               African Shipping Limited 2 450 100 100 8 996 8 996 –  –  Bidcorp Outsourced Services Limited(1) 286 714 100 100 – – –  –  Bidcorp Property Limited(1) * 100 100 – – –  –  Bidfreight (Pty) Limited# * 100 100 – – –  –  Bidfreight Intermodal (Pty) Limited# * 100 100 – – –  –  Bidfreight Logistics (Pty) Limited# * 100 100 – – –  –  Bidfreight Port Operations (Pty) Limited# * 100 100 – – –  –  Bidfreight Terminals (Pty) Limited# * 100 100 – – –  –  Bulk Connections (Pty) Limited# * 100 100 – – –  –  Freightbulk (Pty) Limited 1 100 100 672 662 108  108  Island View Storage Limited 6 300 100 100 367 226 366 843 –  –  Island View Storage Richards Bay (Pty) Limited 500 100 100 – – –  –  Luderitz Bay Shipping & Forwarding (Pty) Limited(9) * 40 40 – – –  –  Manica (Zambia) Limited(10) 903 100 100 – – –  –  Manica Africa (Pty) Limited 3 088 100 100 – – –  –  Manica Botswana (Pty) Limited(3) 179 100 100 – – –  –  Manica Group Namibia (Pty) Limited(4) 275 62 62 – – –  –  Manica Malawi Limited(11) 367 75 50 – – –  –  Manica Zimbabwe Limited(12) * 100 100 – – –  –  Manica Holdings Limited 1 100 100 77 280 76 986 23 499 17 112  Naval Servicos A Navegaçao Limitada(9) 10 100 100 – – –  –  Ontime Automotive (Specialist Operations) Limited(1) 1 100 100 – – –  –  Ontime Automotive (Technical Services) Limited(1) 13 100 100 – – –  –  Ontime Automotive (Volume Distribution) Limited(1) 660 100 100 – – –  –  Ontime Automotive Limited(1) 396 138 100 100 – – –  –  Ontime Rescue & Recovery Limited(1) 1 100 100 – – –  –  P & I Associates (Pty) Limited# * 100 100 – – –  –  Procdib Limited(1) * 100 100 – – –  –  Renfreight (Pty) Limited * 100 100 95 554 95 554 (108) (108) Rennie Murray and Company (Pty) Limited# * 100 100 – – –  –  Rennies Distribution Services (Pty) Limited# * 100 100 – – –  –  Rennies Property Holdings (Pty) Limited 54 000 100 100 54 000 54 000 –  –  Rennies Ships Agency (Pty) Limited# * 100 100 – – –  –  Safcor Freight (Pty) Limited (trading as Safcor Panalpina) * 100 100 106 512 105 218 –  40 000  South African Bulk Terminals Limited 2 100 100 51 125 50 716 –  –  South African Container Depots (Pty) Limited# * 100 100 – – –  –  South African Container Stevedores (Pty) Limited 1 82 82 37 13 –  –  Walvis Bay Airport Services (Pty) Limited 5 31 31 – – –  –  Walvis Bay Stevedoring Company (Pty) Limited(4) * 34 37 – – –  –  Woker Freight Services (Pty) Limited(4) 29 62 62 – – –  –                  Office furniture, supplies and related products               Bid Information Exchange (Pty) Limited# * 100 100 – – –  –  Bonanza Holdings (Pty) Limited * 100 100 – – 5 396  5 652  Budget Desks and Chairs (Pty) Limited# * 100 100 – – –  –  Cecil Nurse (Pty) Limited# * 100 100 – – –  –  Contract Office Products (Pty) Limited# * 100 100 – – –  –  Dauphin Office Seating SA (Pty) Limited * 71 71 1 663 1 507 –  –  Hortors Stationery (Pty) Limited# * 100 100 – – –  –  Kolok (Botswana) (Pty) Limited(3) * 100 100 – – –  –  Kolok (Namibia) (Pty) Limited(4) * 100 100 – – –  –  Kolok (Pty) Limited# * 100 100 – – –  –  Kuyasa Stationers (Pty) Limited * 100 100 – – –  –  Minolco (Namibia) (Pty) Limited(4) * 100 100 – – –  –  Minolco (Pty) Limited# * 100 100 – – –  –  Nuclear Corporate Furniture (Pty) Limited# * 100 100 – – –  –  Offurn Clearance House (Pty) Limited# * 60 60 5 963 1 963 –  –  Pago Designs (Pty) Limited * 100 100 3 644 3 644 600 600  Seating (Pty) Limited# * 100 100 – – –  –  South African Diaries (Pty) Limited# * 100 100 – – –  –  Waltons Stationery Company (Namibia) (Pty) Limited(4) * 100 100 – – –  –  Waltons Stationery Company (Pty) Limited# 31 100 100 31 31 (31) (31)                 Printing and stationery products               Bidpaper Plus (Pty) Limited * 100 100 – – –  –  Bid Commercial Products (UK) Limited(1) * 100 100 – – –  –  Email Connection (Pty) Limited * 51 51 2 606 2 606 –  –  Expressed Solutions (Pty) Limited * 100 100 – – 7 687  7 687  Globe Stationery Manufacturing Company (Pty) Limited# * 100 100 – – –  –  Kolok Africa (Pty) Limited# * 100 100 – – –  –  Lithotech (Pty) Limited * 100 100 – – –  –  Lithotech Holdings Limited 473 100 100 137 661 136 733 10 000  2 606  Lithotech Solutions (Pty) Limited * 100 100 – – –  –  Ozalid South Africa (Pty) Limited# * 100 100 – – –  –  Silveray Manufacturers (Pty) Limited# 58 100 100 – – –  –  Silveray Statmark Company (Pty) Limited# 11 100 100 7 017 7 017 (3 290) (3 302) Tension Envelope (Pty) Limited# * 100 100 – – –  –                  Packaging closures and fastening systems               Afcom Group Limited 343 100 100 12 412 12 412 31 587 31 587  African Commerce Developing Company (Pty) Limited# 151 100 100 – – –  –  Buffalo Executape (Pty) Limited# * 100 100 – – –  –  Buffalo Tapes (Pty) Limited# * 100 100 – – –  –  G E Hudson (Pty) Limited# * 100 100 – – –  –  Ram Fasteners (Pty) Limited 3 111 100 100 3 441 3 385 11 836  12 713                  Linen rental, laundry and cleaning services               Airport Handling Services (Pty) Limited * 40 40 – – –  –  Bidair Services (Pty) Limited# * 100 100 409 173 –  –  Bidserv (Pty) Limited# * 100 100 – – –  –  Bidserv Industrial Products (Pty) Limited# * 100 100 – – –  – Bidserv Risk Solutions (Pty) Limited# * 100 100 – – –  – Bidvest Zambia (Pty) Limited(10) * 100 100 – – –  – Bosnandi Laundry (Pty) Limited * 51 51 – – –  – Companhia de Fumigaçoes de Mozambique Limitada(9) 5 100 100 – – –  – Dinatla Property Services (Pty) Limited 30 50 50 925 908 –  – Execuflora (Pty) Limited# * 100 100 – – –  – Express Air Services (Pty) Limited 1 100 100 – – –  18 100 First Garment Rental (Pty) Limited# * 100 100 – – –  – First In Staffing Solutions (Pty) Limited * 100 100 – – –  – Giant Clothing Limited(11) 9 100 100 – 6 114 –  – Global Payment Technologies Cash Systems (Pty) Limited# * 100 80 44 301 – –  – Ingenico SA (Pty) Limited# * 100 100 8 037 – –  – Langa Status Property Services (Pty) Limited * 48 48 – – –  – Magnum Shield Security Services (Pty) Limited# * 100 100 – – –  – Master Guard Fabric Protection Africa (Pty) Limited * 50 50 16 16 –  – Melisizwa Property Services (Pty) Limited * 26 26 – – –  – Nomtsalane Cleaning Services (Pty) Limited * 50 50 – – –  – Prestige Cleaning Services (Pty) Limited# * 100 100 – – –  – Provicom Electronics (Pty) Limited# * 100 100 – – –  – Pureau Fresh Water Company (Pty) Limited# * 100 100 – – –  – QMS Consulting (Pty) Limited# * 100 100 – – –  – Rochester Midlands Industries SA (Pty) Limited * 50 50 167 167 –  – Setsebi Property Services (Pty) Limited * 48 48 – – –  – Steiner Group (Pty) Limited# * 100 100 – – –  – Steiner Hygiene (Pty) Limited# * 100 100 – – –  – Steiner Hygiene Mozambique Limitada(9) 6 100 100 – – –  – Steiner Hygiene Swaziland (Pty) Limited# 6 100 100 – – –  – Strategic Corporate Solutions (Pty) Limited# * 100 100 – – –  – Taemane Cleaning Services (Pty) Limited * 70 70 – – –  – TMS Group (Pty) Limited# * 100 100 – – –  – TMS Group UK Limited(1) * 100 100 – – –  – Top Turf Botswana (Pty) Limited(3) * 100 100 – – –  – Top Turf Group (Pty) Limited# * 100 100 4 4 (4) – Top Turf Mauritius (Pty) Limited(13) * 100 100 – – –  – Top Turf Seychelles (Pty) Limited(14) 1 100 100 – – –  – Total Outdoors (Swaziland) (Pty) Limited(15) * 100 100 – – –  – Umoja Property Solutions (Pty) Limited * 51 51 – – –  – Vericon Outsourcing (Pty) Limited# * 100 100 – – –  –                 Electrical, security and related products               Bellco Electrical Company (Pty) Limited 200 100 100 – – –  – Berzack Brothers (Jhb) (Pty) Limited 200 100 100 – – –  – Berzack Brothers (Pty) Limited 4 300 100 100 – – –  – Bloch & Levitan (Pty) Limited 50 100 100 – – –  – Eastman Staples Limited(1) 224 50 50 – – –  – Sanlic International (Pty) Limited * 100 100 – – –  – Versalec Cables (Pty) Limited * 100 – 37 990 – –  – Voltex (Pty) Limited 9 100 100 – – –  – Voltex Holdings Limited 6 630 100 100 257 050 251 882 –  –                 Motor retail and related services               Eliance (Pty) Limited * 100 100 – – – – Gaz Motor Corporation Southern Africa (Pty) Limited 4 43 43 – – – – Kunene Motor Holdings Limited * 60 60 – – – – McCarthy Car Hire (Botswana) (Pty) Limited(3) * 100 100 – – – – McCarthy Car Hire Namibia (Pty) Limited(4) * 100 100 – – – – McCarthy Investments (Namibia) (Pty) Limited(4) * 85 90 – – – – McCarthy Limited 1 183 907 100 100 759 727 729 023 – – McLife Assurance Company Limited 10 000 100 100 – – – – McProp Properties (Pty) Limited 90 100 100 – – – – McSure Limited 10 000 100 100 – – – –                 Group services, investment, property               and dormant companies               Airport Logistics Property Holdings (Pty) Limited * 50 50 142 – – – BB Investment Company (Pty) Limited# * 100 100 – – – – BICP Offshore Holdings (Pty) Limited * 100 100 – – 1 970 – Bid Corporate Services (Pty) Limited# * 100 100 – – 52 52 Bid Corporation (Pty) Limited * 100 100 583 346 1 230 549 1 257 969 Bid Corporation Offshore Investments Limited(16) 13 100 100 – – – – Bid Foodservice Products Division (IOM) Limited(16) * 100 100 – – – – Bid Industrial Holdings (Pty) Limited * 100 100 68 212 37 843 153 900  249 361 Bid Property Holdings (Pty) Limited * 100 100 – – 17 996 7 277 Bid Services Division (Pty) Limited * 100 100 86 28 576 436 514 670 Bid Services Division (UK) Limited(1) * 100 100 – – – – idcorp Finance Limited(16) * 100 100 – – –  – Bidcorp plc(1) 655 409 100 100 – – –  – Bidvest (UK) Limited(1) * 100 100 – – –  – Bidvest International Limited(16) * 100 100 – – –  – G. Fox Properties (Pty) Limited * 100 100 802 802 –  – Jacobs Investments Limited(1) * 100 100 – – –  – MyMarketdot Com (Pty) Limited# * 100 100 – – –  – Primeinvest 5 (Pty) Limited * 100 100 – – 325 136  327 947 Promoter International Limited(1) * 100 100 – – –  – Siki Fox Properties (Pty) Limited * 100 100 1 000 1 000 –  – Silveray Properties (Pty) Limited * 100 100 8 833 8 833 –  4 968 Skillion Limited(1) 13 100 100 – – –  – The Globe Foundry (Pty) Limited 32 100 100 1 234 1 234 –  – Waltons Properties Namibia (Pty) Limited(4) 1 100 100 1 1 –  – Other       477 848 370 741 (300702) 160 064         2 782684 2 433244 2 190140  2 747125                 Major joint ventures               Aeromaritime International Management Services (Pty) Limited(C) 4 50 50 – – –  – Cape Town Bulk Storage (Pty) Limited(C) 1 000 50 50 – – –  – Ebony Travel (Pty) Limited(B) * 49 49 – – –  – Ensimbini Terminals (Pty) Limited(C) 2 50 50 4 540 4 540 –  – Masithuthuke Cables (Pty) Limited(G) 1 30 30 – – –  – Phakama Print (Pty) Limited(E) * 40 40 – – –  – Ubuhle Be Dauphin Office Seating (Pty) Limited(D) * 28 28 – – –  – Voltex Swaziland (Pty) Limited(15)(G) * 50 50 – – –  –         4 540 4 540 –  –                 Major associates               Atomic Office Equipment (Pty) Limited(D) * 49 49 – – –  – Compu-Clearing Outsourcing Limited(C) 388 25 25 8 806 8 806 –  – Ditulo Office (Pty) Limited(D) * 40 40 – – –  – Enviroserv Holdings Limited(F) 1 063 33 28 47 466 39 909 –  – Harvey World Travel Southern Africa (Pty) Limited(B) * 50 50 3 464 – –  – Imperial McCarthy (Pty) Limited(H) 1 50 50 – – –  – Master Currency (Pty) Limited(B) 1 45 45 31 760 – –  – Sebenza Forwarding & Shipping Consultancy (Pty) Limited(C) * 45 45 5 011 5 011 –  – Silapha Office Products (Pty) Limited(D) * 25 40 20 20 –  – Supaswift (Pty) Limited(C) * 36 100 – – 20 000  – Tiger Wheels Limited(H) 597 20 20 – – –  – Yeastpro (Pty) Limited(A) * 25 25 32 381 32 381 –  – Other       6 091 48 95  –         134 999 86 175 20 095  –   Amounts owing by or to subsidiaries, joint ventures and associates are unsecured, interest free and have no fixed terms of repayment.           *less than R1 000         #Trading as an agent         Country of incorporation if not South Africa   Nature of business of joint venture and associates (1) United Kingdom   (9)Mozambique   (A) Catering supplies, food and allied products (2) Australia   (10)Zambia   (B) Financial and related services (3)Botswana   (11) Malawi   (C) Freight, forwarding, clearing, distribution, warehousing and      allied activities (4)Namibia   (12) Zimbabwe   (D) Office furniture, supplies and related products (5) New Zealand   (13) Mauritius   (E) Printing and stationery products (6) Belgium   (14) Seychelles   (F) Linen, rental, laundry and cleaning services (7)Netherlands   (15) Swaziland   (H) Electrical, security and related products (8) United Arab Emirates   (16) Isle of Man   (I) Motor retail and related services     ▲   Back to top