The food services company, spun off from Bidvest in 2016, said headline earnings per share (HEPS), the main profit measure in SA,  rose to 1,152.4 cents in the six-month period ended December 31, from 971.7 cents a year earlier.

Currency volatility also positively impacted the rand-translated HEPS, Bidcorp said.

Net revenue of $6 billion rose 24% despite rapidly moderating inflation and softening demand, as many customers became more price-sensitive.

The group's European operations "have had an excellent first half", increasing revenue and trading profits to record levels in a tough and erratic environment. Revenue growth was up 29% at R40.7 billion ($2,16 billion), while trading profit jumped 46.1% to R2.3 billion ($120 million).

--Reuters--