June 1, 2020 / 10:25 AM / a month ago

South Africa's Bidvest warns of 20% drop in 2020 earnings

June 1 (Reuters) - South Africa's Bidvest Group said on Monday its annual earnings would drop 20% compared with a year earlier, as it would take a 467 million rand ($26.66 million) hit due to a capital impairment in its airline operator Comair.

Bidvest, whose businesses include freight, automotive and aviation services, said the coronavirus-related lockdowns had a "particularly devastating" impact on its trading and distribution activities. ($1 = 17.5177 rand) (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Vinay Dwivedi)

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