Bidcorp’s share price surges as trading remains robust

JSE-listed food services group Bid Corporation (Bidcorp)’s share price surged 8.15% to R30.42 yesterday morning after a trading statement indicated the multinational food service group will release strong interim earnings.

Good trading momentum had continued through November and December in almost every region where it operates, and January’s traditionally seasonally flatter sales in the northern hemisphere had remained buoyant, the group said in a statement.

For the six months to December 31 22, headline earnings per share (Heps) and basic earnings per share (Eps) to be between 43% (960 cents per share) and 49% (980 cents per share) higher than the Heps of 668 cents in 2021 and Eps of 656.3 cents per share in 2021.

Bidcorp had previously achieved an all-time Heps high of 714 cents per share in the pre-Covid half year to December 31st 2019.

The group expects to release its interim results on February 22.

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