Review 2010

Strategic focus
 
     
 
The graph represents Bidvest’s share price performance relative to JSE financial and industrial indices
Market capitalisation as at June 30  2010 was R42,7 billion (2009: R32,5 billion).
Net market capitalisation (treasury shares excluded) as at June 30 2010 was R38,9 billion (2009: R29,5 billion).
R1 000 invested at the start of Bidvest in 1988 with capital and dividend distributions reinvested, would be worth an estimated R438 438, a compound return of 31% per year.

Bidvest is listed on the Johannesburg Stock Exchange in the Industrial – business support services sector.
 
Share price performance
Share price performance
 

We are an operationally active investment holding company specialising in distributive trades – market-leading service, trading and distribution businesses.
Strategy     Implementation  
Own the cash flows   Manage businesses actively and successfully  
Mastery of the distribution channel   Maintain decentralised channels and reach common customers  
Anticipate the future   The need to be increasingly flexible and adaptable, to explore new opportunities and directions while taking risks on a calculated basis  
Stick to basics   Collect the book, manage payment of creditors and manage the returns
on investment  
Opportunistic and acquisitive   Remain constantly alert for acquisitions in various geographies  
Balance mature and growth businesses   Build and retain market leadership  
Management focus      Implementation  
Never waste a crisis   A proactive approach to global challenges could describe the Bidvest style, refitting the businesses for a new future  
Financial disciplines and allocation of funds   Working capital and return on funds employed  
Restructuring   Developing lean, flexible structures to take business in entirely new directions. Nimble unblinkered organisations have the best chance of success in a changing world  
Medium-term target   Real organic growth in earnings across all businesses