Food service group Bidcorp flags lower half-year earnings

  • Reuters
  • Stock Market News
Food service group Bidcorp flags lower half-year earnings

JOHANNESBURG, Feb 19 (Reuters) - Food services firm Bid Corporation Ltd (Bidcorp) BIDJ.J on Friday flagged a drop of as much as 48% in half-year earnings, weighed down by its operations in Europe that were hit by a second wave of COVID-19 infections during the period.

Headline earnings per share (HEPS) for the half year ended December is expected to drop by between 43% to 48% from 728.3 cents recorded a year earlier.

HEPS is a widely used profit measure that excludes one-off items to give a better indication of the underlying performance of a business.

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