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Bidvest profits down

Bidvest Namibia has achieved satisfactory results at group level in the face of significant challenges in its fishing division and mixed results within its commercial and service driven businesses. The NSX-listed fishing and commercial services group announced a 22,9% increase in revenue to N$3,4 billion compared to the 2012 results of N$2,7 billion.
The operating profit was 8,1% lower at N$601,8 million compared to last year’s N$654,5 million.
The board declared a final cash dividend of 46 cents per share. According to Bidvest Namibia CEO, Sebby Kankondi, the fishing sector’s performance was somewhat below expectation, “but in the context of greater scheme of fishing quota allocations and further Namibianisation granted by the Ministry of Fisheries and Marine Resources, the result is creditable.”

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