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Bidvest sees higher annual profit ahead

Bidvest, with a diverse portfolio from security and cleaning to financial services, said yesterday it expected to increase annual profit, boosted by trading profit growth, which had accelerated in almost all businesses, supported by strong cash generation.

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THE BIDVEST GROUP LIMITED – Trading statement and business update for the ten months to April 2021 - SENS

Bidvestâs executive management are today briefing stakeholders, including shareholders and financial analysts, on the performance of the Group for the ten months ended 30 April 2021. The year-to-date performance has been exceptionally pleasing as the Groupâs operating and financial performance exceeded pre-pandemic comparatives. Sequential trading profit growth accelerated in almost all businesses, supported by excellent cash generation, as the benefits of decentralisation and agility materialised. All divisions delivered improved performances compared to the interim period. This is set to accelerate because of the limited demand and restricted trade activity in the last quarter of FY2020. While this update covers the first ten months of the financial year, it is already clear that earnings will exceed

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National Aviation signs deal with Bidvest to land BidAir Services

National Aviation signs deal with Bidvest to land BidAir Services By Sandile Mchunu Share DURBAN - THE BIDVEST Group has signed an agreement with National Aviation Services (NAS), Colossal Africa and a consortium consisting of the current executive team to acquire its business BidAir Services for an undisclosed amount. BidAir is the country’s largest ground handling company and its acquisition is subject to regulatory approvals, as well as permission from the Airports Company of South Africa (Acsa), which manages South African airports. NAS chief executive Hassan El-Houry said NAS prides itself on its global expertise and local knowledge. “We believe that the success of the aviation industry in Africa is tied to its economic prosperity and have made significant investments into the industry across the continent.

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Bidvest restructuring nearly done after exit from car rental business and sale of Mumbai airport stake

Bidvest restructuring nearly done after exit from car rental business and sale of Mumbai airport stake
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