International food service group Bid Corporation has delivered a steady performance despite a challenging trading environment.The group on Wednesday reported a 5% increase in revenue in constant currency to R242.2bn for the year to end-June, with trading profit up 8.2% to R13.8bn.Cash generated by operations after working capital increased 17.7% to R18.6bn.HEPS increased 6.8% to 2,701.4c and a final dividend of 625c per share was declared, taking the total payout for the year to 1,240c, up 6.9%The group said in a recent trading update that while elevated fuel costs have had a short-term effect on some of its cost structures, overall consumer demand has remained “generally stable”.Trading profit was supported by strong performances in Europe and the UK, but partially offset by lower growth in Australasia and emerging markets. During the year the group concluded five bolt-on acquisitions. These included Hodgson & Sailbrand, a seafood wholesaler based in the northeast of England, and Baltimer, a fish processing business based in Poland.It acquired three foodservice distributors — Gruppo Alimentare Sardo based in Sardinia, Italy, Chuan Yee in Kuala Lumpur, Malaysia, and Fridge Foods, which is based in the Eastern and Western Cape.These acquisitions contributed R2.7bn to revenue and R142m to trading profit. After its year-end the group made a bolt-on acquisition in the UK for about R28m and entered into an agreement, through Bidfood Pacific Islands, to acquire the Fijian operations and Pacific Islands export business of T&G Global. Completion is expected at the end of August.The group took advantage of excellent free cash flow generation and a weak Bidcorp share price to repurchase 2.6-million shares at an average price of R409.35 per share. “The benefits of the share buybacks will be reflected in the F2027 results,” the group said.The group said previously that competition remains elevated as market participants aggressively pursue volume in slow-growth environments. “Against this backdrop, the group remains focused on delivering sustained growth through pricing discipline, margin quality, customer selection, cost control and service excellence,” it said.Business Day