Review 2010

Financial and operational highlights
 
     
 
R109,8 billion   Revenue
(2009: R112,4 billion)   2,3% decrease
     
R5,6 billion   Trading profit
2009: R5,1 billion)   8,1% increase
     
1 070,0 cents   Headline earnings per share
(2009: 930,0 cents)   15,1% increase
     
R8,0 billion   Cash generated by operations
(2009: R6,8 billion)   18,3% increase
     
432,0 cents   Distribution per share
(2009: 380,0 cents)   13,7% increase
 
Operational highlights
  • P&L is key to Bidvest: People and Lives are a function of Profit and Loss, if we get our people right the financials fall into place
  • We had a few hiccups but Bidvest people delivered a good result and South Africa hosted a great World Cup
  • Economic variability across different trading geographies and sectors, in a challenging environment
  • Earnings of R3,4 billion at a record high, strong cash flows, R1,2 billion in new equity
  • We refused to participate in the recession but the lessons have not been lost on us
  • New management structures for Bidvest Foodservice, Bidvest Industrial and Commercial and Bidvest Automotive
  • Economic conditions have challenged every part of the Group to come up with smarter practices
  • Eastern European foodservice acquisition successfully integrated and appropriately resourced
  • We continued to scout for opportunities near and far – there is a world of possibilities open to us
  • Half of Bidvest South Africa’s procurement is now spent with BEE suppliers
  • CSI spend increases 39% from R33,4 million to R47,2 million
  • Group has adopted the COBiT standard for IT governance
  • Sustainability data collection tool refined and strengthened to provide more robust aggregated information from subsidiary companies and divisions
  • Employee survey receives responses from 3 200 respondents and reveals enthusiasm for sustainable development at Bidvest, while seeking further opportunities to contribute and be recognised
  • Internal audit has identified all Acts applying to Bidvest companies and will form the basis of an effective compliance framework