| |
| A number of long-term objectives continue to be pursued by Bidvest. |
| |
| Bidvest will continue to use its South African 'engine' to seek acquisitions and organic growth opportunities that fit with the business focus of its four umbrella divisions. |
|
| |
| Acquisitions |
| • |
Acquisition of McCarthy Limited and the minorities of Bidvest plc and Bidcorp plc. |
| • |
Small strategic foodservice acquisitions were made in the United Kingdom , Australia and New Zealand. |
| • |
Acquisition opportunities are constantly being evaluated. |
|
| |
| Bidvest will seek to acquire businesses that fill the gaps in its service and product offerings. |
| |
| |
| Bidvest will continue to harness the benefits of being an international, multi-business group through the cross-pollination of ideas and expertise, in its drive to deliver ongoing shareholder value. |
|
| |
| • |
The promotion of cross-selling across the Group is an ongoing process utilizing the platforms created by the electronic marketplace, mymarket.com. |
|
| |
| Ongoing focus will be on leveraging off the products and services we provide and promoting cross-selling across the Group. |
| |
| |
| Bidvest will continue to make strategically defensive investments in complementary businesses operating in similar fields where such an investment would yield a satisfactory return. |
| The Group will expand its foodservice interests in the markets in which it is currently active. |
|
| |
| Further expansion opportunities will be sought in other international markets. |
| • |
Swithenbank acquisition consolidated in 3663. |
| • |
Barton Meat acquired in the United Kingdom. |
| • |
Small strategic foodservice acquisitions were made in Australia and New Zealand. |
|
| |
Acquisitions for The Foodservice Products Division remain a priority.
The current trading conditions are creating numerous opportunities for Bidvest's foodservice businesses. |
| |
| |
| Bidvest intends to continue its tradition as a learning corporation and, through its divisions, to train and develop its staff in not only the expertise necessary for the job, but also in life and leadership skills. |
|
| |
| • |
The Bidvest Academy was launched in May 2003 to provide a platform for identifying and developing young executive talent within the Group. |
|
| |
| |
| Through mymarket.com Bidvest intends to develop a culture that is ready to embrace technology and adapt to the Group's business models. This e-commerce initiative is a long-term project from which no financial return is expected in the immediate future. |
|
| |
| • |
As at June 30 2004 , mymarket.com had approximately 8 021 buying organizations, 3 487 suppliers listed on the platform and 13 379 users. |
| • |
The mymarket.com platform is used to facilitate the cross-selling process across the Group. |
|
| |
| mymarket.com is aggressively targeting new customers and suppliers to trade online. |
| |
| |
| Bidvest would be comfortable with a debt-to-equity ratio of up to 40%. |
|
| |
| • |
Gearing cautiously increased during the year. |
| • |
Gearing at approximately 10% at June 30 2004. |
|
| |
| |
| Opportunities between Bidfreight and Bidcorp's businesses will be explored. |
|
| |
| • |
Bidcorp's businesses have been stabilized and now are managed as 3 decentralized autonomous businesses. The exploring of opportunities between Bidfreight and the Shipping and Ports businesses has been delayed but will be pursued. |
|
| |
| |
| Bidvest intends to actively participate in the privatization / concessioning process of the South African port operations as and when it happens. |
|
| |
| • |
Current government thinking is tending to the development of Public Private Partnerships (PPP's). Bidvest intends to partake in such PPP's as and when they arise. |
|
| |
| |
| Export initiatives will be proactively pursued. |
|
| |
| • |
Further investment in African markets to boost export initiatives will be investigated. |
|
