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9 months ago
BRIEF-Bidvest says trading satisfactory, looking for small acquisitions
November 29, 2016 / 12:15 PM / 9 months ago

BRIEF-Bidvest says trading satisfactory, looking for small acquisitions

Nov 29 (Reuters) - Bidvest Group Ltd :

* Market conditions remain challenging

* Trading results to date have been satisfactory if not exciting

* Seven South African trading divisions have performed well in Q1 of financial year

* Performance has been counteracted to an extent by declines in Horse Mackerel and Pilchard Yields as well as reduced fishing quotas at Bidvest Namibia

* Group's financial position remains sound, cash generation continues to be strong

* Bidvest freight division, services division and commercial products division have achieved good results

* Financial services division is performing in line with expectations

* Undertaken an impact analysis of implementation of minimum wage across its operations

* Group wages are above these thresholds, implementation of current requirements will have a negligible financial impact on operations

* Actively seeking bolt on acquisitions and exploring international opportunities, other assets and investments constantly being reviewed Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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