Sign up for our free daily newsletter


Get the latest news and some fun stuff
in your inbox every day

Research archive for BID

Bidcorp Trading Update - Not so good

08 June 2023

On Tuesday Bidcorp released a strong trading update but it disappointed the market. One of the groups biggest challenges was high food inflation in their operating countries. Australasia had food inflation of 9%, Europe of 16%, and the UK at 19%! Rapidly rising prices makes is difficult to pass on the increases to clients.

Read more...


Bidcorp 6M - Solid Results

23 February 2023

It's very gratifying to see a stock that we hold make new all-time highs after going through a very tough patch. We held onto the shares, and did not sell, even though we may have been tempted to do so.

Read more...


Bidcorp Trading Update - Moving on From Covid

23 November 2022

Local Vestact portfolio holding, Bidcorp, released a positive trading update yesterday, sending the share price up 3.4%. This food-services company has had a tough few years. They were blitzed by hard lockdowns during the pandemic, because their clients went out of business, and hundreds of millions of Rands of stock went off in their warehouses. Last year they also discovered a serious accounting fraud at one of their Chinese subsidiaries which cost hundreds of millions more.

Read more...


Bidfraud

24 August 2021

Bidcorp said late last week that it has uncovered a serious fraud in its Chinese subsidiary and has to delay its results to quantify the appropriate accounting write-downs. The fraud was found in a subsidiary called Miumi, part of the food division of its Angliss Greater China business. It came to light in June thanks to internal surveillance and control processes.

Read more...


Bidcorp 6M numbers - Lockdowns impact operations

25 February 2021

The food services company Bidcorp released half-year numbers showing just how much the covid-19 global lockdowns have impacted the food business. The company operates in over thirty countries, spanning five continents.

Read more...


Bidcorp Trading Update - Food Sales Returning to Normal

17 June 2020

On Monday Bidcorp gave the market a trading update which had some interesting data. Remember Bidcorp is in food services, so they were heavily impacted by all the restaurant closures around the globe. The below graph compares their sales versus the same time last year. A low of 37% was reached on the 5th of April, ouch.

Read more...


Bidcorp Covid-19 Update

16 April 2020

On Tuesday, Bidcorp released an update to give us an idea of how their business has been impacted by this Covid-19 global shutdown. Being in the food industry, they have been hit harder than some other companies. The Bidcorp share price was around R350 in January, with a high of R358. Last month it reached a low of R171, and is now trading around the R240 level.

Read more...


Bidcorp 6M Numbers - Flat

20 February 2020

Global food-services business Bidcorp is a company that we hold for most clients with JSE portfolios. For those with short memories, this group was spun off from the old Bidvest in May 2016. It has a market capitalisation of R106 billion. The share price has done fairly well since the separation, rising to a recent high of about R340 per share.

Read more...


Positive Trading Update

20 November 2019

On Monday Bidcorp came out with a positive trading update. Gross margins have increased and operating costs have been maintained for the four month period up to October 2019. Political unrest in Hong Kong, Chile, Barcelona and the UK have impacted tourism and eating patterns in those areas. That is an interesting list of relatively stable countries and cities. It is not just SA that has problems.

Read more...


Bidcorp FY Numbers - Growth With Low Debt

29 August 2019

Yesterday, Bidcorp released their full-year set of numbers. I made it to the results presentation at the Standard Bank head office, in Rosebank; we're now only a stone throw away. The walk was relaxing.

Read more...


Bidcorp Trading Update - More of the Same

23 May 2019

Bidcorp released what they call their "Capital Markets Trading Update" on Tuesday where they basically tell us how the business is faring across its international operations. The food-services company highlighted a few points including rising costs for retailers and food price inflation which is affecting margins for these operators.

Read more...


Bidcorp 6M numbers - Growth in All Areas

21 February 2019

Yesterday food services business Bidcorp released 6 month results for the period ending December 2018. Since it's spin off from Bidvest in 2016 the share price has been flat. Considering the recent environment, that has been better than most!

Read more...


Bidcorp FY numbers - steady growth

23 August 2018

Yesterday foodservice company Bidcorp released their full-year numbers. I watched the results presentation online, while at my desk eating lunch. It is a very convenient way to take in the figures, the only downside is I didn't get access to all the free food being served after the presentation.

Read more...


Bidcorp 6M numbers - change in UK ops

02 March 2018

On the 21st of February I went to Bidcorp's results presentation which was held in the beautiful Standard Bank head office building in Rosebank. The company was reporting their half year results to the end of December 2017. Just a quick refresh, this business has diverse food service operation across 30 countries. 90% of Bidcorp's earnings continue to be offshore. Only 10% is earned locally, making it another useful Rand-hedge.

Read more...


Bidcorp operating update - More bolt-ons

15 November 2017

The company said that trading in the first quarter has been reasonably positive in their core foodservice business. All their businesses performed well in their local currencies. Management is putting efforts to down scale in non-core, underperforming Logistics businesses in the U.K. as trading remains tough. The U.K. logistics business is not a material player in the groups overall business.

Read more...


Other recommended stocks     Older stories...