Latest news with #Bidfood
Edinburgh Reporter
12 hours ago
- Business
- Edinburgh Reporter
Recognising the importance of 'invisible' industries
I recently got to visit 'Behind the scenes' of Scotland's hospitality industry where there is a workforce that keeps kitchens stocked, menus running, and businesses thriving. On a visit to Bidfood Wholesale in Newbridge, I saw first-hand the innovation, and scale behind one of the country's leading foodservice providers. With a team of 234 staff, a fleet covering nearly 3.8 million kilometres a year, and a clear commitment to both service and community, Bidfood is more than just a distributor, it's a mission-driven operation powering thousands of independent businesses across Scotland. In Edinburgh, they support local initiatives like Gorebridge Community Foodbank and Ratho Primary School, helping address food insecurity and strengthen social responsibility at a grassroots level. Powered by both people and technology, they remain agile and responsive in a fast-changing industry. Sustainability is another key focus. Their dedication to achieving net zero targets and supporting regenerative agriculture highlights their role as a positive force for change in the foodservice industry. Bidfood plays a significant role in supporting Brand Scotland by distributing renowned local products like Tunnocks and Irn Bru. This initiative not only promotes Scottish heritage but also boosts the local economy by increasing the visibility and sales of these beloved brands. By championing local products, Bidfood helps sustain Scottish producers, fosters community pride, and ensures that consumers across Scotland and beyond can enjoy authentic Scottish flavours. The food wholesale industry in Scotland is a crucial part of the economy, ensuring a steady supply of high-quality, locally sourced products to retailers and foodservice operators. This sector supports local producers by creating new markets for their goods, contributing to the growth of Scotland's renowned food and drink industry and helps maintain competitive prices and ensure the availability of diverse products, benefiting both businesses and consumers. Bidfood's work exemplifies how innovation, sustainability, and community engagement can coexist within a thriving business model. Their continued investment in technological advancements, responsible sourcing, and waste reduction initiatives reflects their dedication to shaping a more ethical and environmentally conscious food industry. As Scotland moves toward net-zero targets and strengthens its local food economy, companies like Bidfood play a crucial role in ensuring that businesses and communities alike can adapt, grow, and succeed in an ever-changing market. Their leadership in the foodservice sector not only benefits their customers but also contributes to a stronger, more sustainable Scotland, one where quality, accessibility, and environmental responsibility go hand in hand. Like this: Like Related
IOL News
27-05-2025
- Business
- IOL News
Bidcorp reports 10% rise in earnings per share amid challenging economic conditions
Bidcorp, with Bidfood, says revenues continue to set record levels to the end of April 2025. Image: Supplied Bidcorp, the global foodservice giant, in a trading update on Tuesday said constant currency headline earnings per share were up 10% for the period ending April 2025, showcasing resilience in a challenging economic landscape marked by subdued consumer spending and persistent inflationary pressures. The company reported a 10% year-to-date growth in constant currency trading profit, navigating near-zero food inflation and currency volatility that dented rand-translated results by 3.8%. The update highlighted a 10% increase in constant currency headline earnings per share (Heps), surpassing the record performance of the prior year. With more than 90% of operations outside South Africa, Bidcorp cited constant currency metrics as the true gauge of its performance. Revenues hit record levels, up 6.7% in constant currency from the stellar 2024 comparative, with organic growth at 4.6% and acquisitions contributing 2.1%. Despite a slow third quarter in the UK and Europe due to the Northern Hemisphere winter, April trading rebounded, buoyed by a late Easter and warmer weather. Australasia struggled, with Australia's demand lackluster and New Zealand's hospitality sector under strain. Emerging Markets showed resilience, though Greater China lagged. South Africa and South America posted positive results. Global consumer spending remains constrained by cost-of-living pressures and tariff uncertainties, with interest rate cuts failing to significantly lift sentiment. Core inflation, outpacing food inflation, and rising labor costs due to regulatory wage hikes continue to challenge operations. Bidcorp is countering these pressures by prioritising market share growth, even at the cost of margins, while maintaining high service levels and managing credit risk. Its revenues continue to set record levels to the end of April 2025, outperforming the comparative 2024 figures by 6.7% in constant currencies. Acquisitions contributed 2.1% to net revenue reflecting real organic growth of 4.6%, "a commendable achievement in an almost zero-food inflationary environment", the group said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ For the period to April 2025, the group's Ebitda margin (before IFRS16) of 5.8% is around 20 basis points better than 2024 Ebitda. Net capital investments to April 2025 of R5.6 billion (2024: R5.1bn) reflect the creation of future capacity (R2.8bn) and the replacement of capital equipment, most notably delivery vehicles (R2.8bn). CEO Bernard Berson said, "I would like to acknowledge and thank our amazing teams who repeatedly deliver record results, driving our business forward with their enthusiasm and passion. Our people are our strongest and best asset - who are motivated by doing what they do best, delivering growth and returns" Looking ahead, Bidcorp remains optimistic for the rest of 2025 and into 2026, supported by a robust capital structure and a pipeline of acquisition opportunities. "Our pipeline of bolt-on acquisition opportunities to achieve geographic reach and new product opportunities is full, however, we continue to be disciplined in converting the right opportunities, at the right price. Our management is focused on integrating those acquisitions that have been completed to realise their growth potential and relevant synergistic benefits. Our appetite for the larger opportunities remains, even though these have been sparse in recent years. Our capital structure provides significant financial firepower for the right opportunities," it said. | Visit: BUSINESS REPORT
