The Bidvest Group Limited - Audited summarised provisional consolidated financial results for the year ended June 30 2014

At a glance

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Financials

Summarised consolidated income statement Summarised consolidated statement of other comprehensive income Summarised consolidated statement of cash flows Summarised consolidated statement of financial position Summarised consolidated statement of changes in equity Summarised segmental analysis

Message to shareholders

Introduction Financial overview Acquisitions Prospects Divisional Review Bidvest South Africa Bidvest Foodservice Corporate Directorate Declaration of scrip distribution with a cash dividend alternative Basis of presentation

Administration

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Commentary

Highlights

The Group delivered satisfactory trading results for the year in a challenging economic environment.

Trading conditions in South Africa during the last quarter of the year became increasingly disruptive, compounded by the detrimental effects of prolonged labour unrest and declining consumer demand. Bidvest South Africa delivered improved trading results in most divisions, assisted by the acquisitions of Home of Living Brands Limited (HoLB) and Mvelaserve Limited. Bidvest Namibia recorded a decline in trading profit as the lower fishing performance negated the improved results of the commercial businesses.

Bidvest Foodservice’s trading results reflect improved performances in all operations, delivering real growth in home currencies. The core Australian and New Zealand markets remain resilient, driven by expansion and innovation into new segments of the food market. The UK businesses did well, particularly the specialist food businesses of Bidvest Fresh. In Europe, signs of recovery were evident across some markets, though improvement was subdued in the Netherlands and Belgium. The Czech and Polish businesses put in a strong performance.