Bidcorp sees post-pandemic rebound

Food Services Group BidCorp has reported improved performance, with a significant pickup in demand as businesses benefit from what appears to be a post-COVID honeymoon period. The company has experienced a remarkable 77% increase in headline earnings per share, accompanied by a jump of 28.2% in revenue. Bernard Burson BitCorp C&C joined CNBC Africa to discuss the contributing factors to this success. Burson highlighted that comparing the current year to the previous year, heavily impacted by COVID, may not be the most accurate measure. Instead, comparing to FY19 levels, the company has surpassed expectations. As markets around the world rebounded rapidly post-COVID, BidCorp's teams effectively managed challenging circumstances to deliver exceptional results. Burson expressed optimism about the sustainability of these results and noted a potential downturn in inflation rates, especially in food commodities. Geographically, most of BidCorp's 35 operating countries have seen record performance, with only a few exceptions such as New Zealand and Australia, which faced COVID-related challenges. The strong rebound in consumer spending and operational efficiency were cited as key factors driving this performance. Looking ahead, BidCorp anticipates organic growth across markets, with a focus on smaller strategic acquisitions to enhance existing operations. Burson emphasized the importance of a coherent and focused strategy that has served the company well over the years. Technology plays a crucial role in BidCorp's operations, with data analytics and artificial intelligence being leveraged to personalize pricing and product offerings for individual customers. The company's fast-moving inventory cycle and dynamic pricing strategy ensure efficient inventory management and customer satisfaction. Overall, BidCorp's future prospects look promising as it continues to focus on value creation, operational excellence, and technological innovation.