Bid Corporation Ltd (BID) Results Snapshot 1H23

Diluted HEPS of 969.7 cps (1H22: 667.2 cps).
Turnover growth of +28.1% (1H22: +18.1%).
GPM marginally decreased -30 bps to 23.6% (1H22: 23.9%).
Operating margin up by +70bps to 5.2% (1H22: 4.5%).
Expense to sales down -90bps to 18.3% (1H22: 19.2%) despite elevated fuel and energy costs.
Interim dividend up +46.7% to 440 cps (1H22: 300 cps).
Exceptional revenue growth driven by uptake in demand from hospitality, tourism and leisure industry.
Segments continue to show robust performance, however UK and Europe segment impacted by weather related events.
Higher capex shows management’s expectation and thus preparation for continued demand growth.