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Bid Corporation Limited ( Incorporated in the Republic of South Africa ) Registration number : 1995/008615/06 Share Code : BID ISIN ZAE 000216537 ( " Bidcorp " or " group " or " company " ) TRADING STATEMENT AND UPDATE Shareholders are advised that the Board wishes to update them on Bidcorp's performance for the year to June 2021 and current trading conditions ahead of the release of its annual results ; and notify the market of the impacts of the civil unrest in South Africa in July ; and an incident of fraud uncovered at Miumi Hong Kong , a subsidiary of Angliss Greater China , and the actions taken thereon . Earnings for the year ended June 30 2021 Bidcorp's Headline Earnings Per Share ( HEPS ) from continuing operations for the year ended June 30 2021 will be in the range of 840,0 cents per share ( 13 % higher than HEPS of 741,3 cents per share in F2020 ) to 900,0 cents per share ( 21 % higher than HEPS of 741,3 cents per share in F2020 ) , and Basic Earnings Per Share ( EPS ) from continuing operations will be in the range of 900,0 cents per share ( 94 % higher than EPS of 463,5 cents per share in F2020 ) to 950,0 cents per share ( 105 % higher than EPS of 463,5 cents per share in F2020 ) . Our financial position at June 2021 ended very strong with non IFRS 16 net debt reducing substantially to R503 million , compared to that at June 2020 of R5,6 billion . Working capital management has been particularly pleasing which has assisted in generating positive free cash flow of R4,8 billion versus R2,6 billion in the 12 months to June 2020 . Final dividend for the year ended June 30 2021 As previously guided , the Board intends to declare a final dividend for the year ended June 30 2021 in line with the group's dividend policy of approximately 2,5 times HEPS cover . This final dividend will be paid in respect of Bidcorp's full year's earnings . Recent trading conditions Trading in May and June gained strong momentum as the UK and Europe emerged from the COVID induced winter hibernation and economies were progressively reopened . Constant currency group sales for July 2021 are at 98 % of July 2019 levels , and 120 % of July 2020 sales , and this upward trend has continued in August 2021 , notwithstanding some restricted activity in Australasia and parts of Asia due to further COVID lockdowns , as well as subdued activity in South Africa following the recent civil unrest . Every business in the group generated trading profits in July 2021 despite COVID - related restrictions still impacting on the volume recovery in certain segments of the market , particularly workplace catering and travel related sectors .