...when Bidvest people take on a challenge
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Revenue up
15,5%

to R110,5 billion
  Operating profit up
18,8%
to R5,3 billion
  Headline earnings per share up
10,1%

to 1 068,0 cents
  Basic earnings per share up
19,3%

to 1 073,0 cents
  Distributions per
share up
10,9%

to 495,0 cents
 
 

Basis of preparation of financial statements
The financial statements have been prepared in accordance with the recognition and measurement requirements of International Financial Reporting Standards (IFRS) and the presentation and disclosure requirements of IAS 34 – Interim Reporting. In the current year, the group adopted IFRS 7 Financial Instruments: Disclosures and the consequential amendments to IAS 1 Presentation of Financial Statements. These disclosures have not had an impact on the results as reported. The accounting policies are consistent with those of the prior year.

Reclassification
The unfunded defined benefit early retirement plan obligation of R220, 1 million, previously disclosed in 2007 under trade and other payables, has been included in post-retirement obligations. Defined benefit pension fund surpluses and post-retirement obligations have been separately disclosed in the balance sheet. Certain operations have been transferred to other segments. Comparatives within the segmental analysis have been restated.

Audit report
The consolidated results for the year have been audited by Deloitte & Touche. Their unqualified audit report is available for inspection at the Company’s registered office.

Analyst presentation
The presentation to investors will be available on the Bidvest website from 10:00 on Monday, September 1 2008.

The Bidvest Group Limited
Incorporated in the Republic of South Africa (“Bidvest” or “the Group” or “the Company”)

 

Directors
Chairman:
MC Ramaphosa
Independent non-executive: DDB Band, S Koseff, D Masson, JL Pamensky, NG Payne, Adv FDP Tlakula
Non-executive: LG Boyle*, AA Da Costa (alternate LJ Mokoena), MBN Dube, RM Kunene, T Slabbert
Executive:
B Joffe (Chief Executive), FJ Barnes*, BL Berson**, MC Berzack, DE Cleasby, AW Dawe, LI Jacobs, P Nyman, SG Pretorius, LP Ralphs, AC Salomon (*British **Australian)

Company secretary
MA David

Transfer secretaries
Link Market Services South Africa (Pty) Limited, 11 Diagonal Street, Johannesburg 2001, South Africa. PO Box 4844, Johannesburg 2000, South Africa.

Registered office
Bidvest House, 18 Crescent Drive, Melrose Arch, Melrose, Johannesburg 2196, South Africa. PO Box 87274, Houghton, Johannesburg 2041, South Africa.

Registration number
1946/021180/06

Share code: BVT ISIN: ZAE000117321

Further information regarding our financial
results can be found on the Bidvest website: www.bidvest.com

 
 
 
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