JSE-listed services, trading and distribution company Bidvest on Monday announced that its headline earnings per share (HEPS) rose 10.1 percent to 1068 cents for the year ending 30 June.

Bidvest CE Brian Joffe described the results as "satisfactory".

Joffe said that Bidvest's non-stop growth continued, with compound growth in headline earnings per share running at 24 percent per annum for 19 years.

Operating profit of R5.3-billion was 18.8 percent higher. Trading profit rose 17.3 percent, with the trading margin easing higher to 4.8 percent. Revenue was up 15.5 percent to R110.5-billion.

The South African and UK markets faced particular economic challenges, though higher interest rates, spiralling inflation and lower consumer confidence had "limited impact on most operations until late in the year.

"A more challenging business environment showcased the advantages of Bidvest's decentralised business model as our divisions optimised opportunities across various 'geographies' and industries," Joffe said.

Basic earnings per share growth of 19.3 percent to 1073 cents was achieved.

Bidvest operates on four continents, employing 104 000 people worldwide.

Sapa