Strong sales at FWD members

Two parent companies of FWD members reported their interims results at the beginning of March, although neither separates out the figures of their UK arms.

Bidvest, the South African parent of 3663, reported turnover up 25.2% to R47.9bn, and operating profit up 22.7% for the six months ended December 31. For Bidvest Europe, where 3663 is the largest constituent, turnover was up 44% to R15bn, and trading profit was up 19% to R341.2m.

However these figures were helped by the currency conversion against a weak rand, and recently acquired Deli XL on the continent boosted turnover.

Costco reported sales of $28.6bn for the 24 weeks to February 18, up 8% on the same period last year, but net profits were $486.4m, compared with $512m the previous year, although when a one-off charge was excluded trading profit was 9% up at $539.5m.

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