Bidcorp, the global food services company spun off from Bidvest in 2016, says its decentralised model is proving nimble during Covid-19, but while profits surged in its year to end-June, it is still digesting the R694m cost of fraud at a Chinese unit.
The fraud detracted from a resilient set of results for the group’s year to end-June, with CEO Bernard Berson telling Business Day there would always be those seeking to engage in illicit activity, with little the group could do except beef up surveillance and catch things earlier...
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Profits surge as nimble business model helps Bidcorp weather Covid stormThe food services company says decentralisation helped it trim operating costs by 13.4% in constant-currency terms
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