Full Year 2024 Bid Corporation Ltd Earnings Call Transcript
Key Points
- Bid Corp Ltd (BPPPF) reported a 15.5% growth in HEPS and a 16% increase in dividends, showcasing strong financial performance.
- The company continues to benefit from its decentralized business model, which promotes entrepreneurial growth and bolt-on acquisitions.
- Revenue increased by 15.1% in rand terms, with a 7.6% growth in constant currency, indicating solid organic growth.
- The trading margin improved slightly from 5.3% to 5.4%, demonstrating effective cost management despite inflationary pressures.
- The company has made significant investments in infrastructure, including new warehouses and distribution centers, to support future growth.
- The economic environment remains challenging, with several geographies experiencing recessionary conditions or tepid growth.
- Food inflation has dropped dramatically, creating a minefield of challenges for the business.
- High wage costs and labor shortages in developed markets continue to pressure the cost base.
- The company faces difficulties in certain regions, such as Hong Kong and China, where consumer sentiment and demand are low.
- The effective tax rate has increased due to factors like Brexit and changes in the mix of contributions from different regions.
Good morning, everybody, or good evening, depending on where you are in the world. I'm Stephen Koseff, the Chairman of Bidcorp. It's a pleasure to welcome all of you to the Bidcorp results presentation.
As a Board, we are very proud of the executive management, David and Bernard and all their management teams around the world for the achievement in what was a more difficult environment, delivering HEPS growth of 15.5% and a dividend growth of 16%.
And the Bidcorp philosophy of running an entrepreneurial decentralized business model in multiple geographies driven by organic growth and bolt-on acquisitions and supported by a strong culture that focus on our people, customers, and stakeholders and is committed to strong governance and ethical behavior continues to show positive results.
Before I hand over to Bernard and Dave to present, I'd like to thank both of them and their executive teams and all 29,000 employees for their continued dedication, drive, and enthusiasm that has enabled these
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