August 28, 2019 / 5:28 AM / 3 months ago

South Africa's Bidcorp full-year profit rises 12.5%

JOHANNESBURG, Aug 28 (Reuters) - South African food services firm Bid Corp Ltd (Bidcorp) reported on Wednesday a 12.5% increase in full-year earnings, supported by positive trading performance in its developed markets.

Bidcorp, which operates in Europe, United Kingdom, Australasia and emerging markets, posted headline earnings per share (HEPS) from continuing operations of 1,443.6 cents in the year ended June 30, compared with 1,282.9 cents in the previous year.

In constant currency terms, HEPS rose 7.7%. HEPS is the most widely watched profit gauge in South Africa and strips out certain one-off items.

Bidcorp, which supplies hotels, restaurants and industrial caterers, said revenue rose 9.8% to 129.3 billion rand ($8.49 billion). ($1 = 15.2369 rand) (Reporting by Nqobile Dludla; Editing by Subhranshu Sahu)

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