Bunzl PLC Trading Statement (6118C)
19 April 2017 - 4:00PM
UK Regulatory
TIDMBNZL
RNS Number : 6118C
Bunzl PLC
19 April 2017
19 April 2017
BUNZL Q1 TRADING STATEMENT
Bunzl plc, the international distribution and outsourcing Group,
today announces its trading statement for the period since 31
December 2016.
Overall trading has been consistent with expectations at the
time of the annual results announcement at the end of February.
Group revenue in the first quarter has increased 18% at actual
exchange rates. At constant exchange rates, revenue has risen by 4%
compared to the same period last year due to improved underlying
growth of approximately 2% and a 3% impact from acquisitions,
partly offset by the effect of fewer trading days. The underlying
revenue growth is mainly due to the previously announced additional
business won, albeit at lower margins, in North America towards the
end of 2016.
The level of acquisition activity has increased during the year
to date with five acquisitions announced for a total committed
spend of approximately GBP260 million, adding aggregate annualised
revenue of GBP330 million. These acquisitions include the proposed
purchase of DDS in the US with annualised revenue of US$312 million
(c.GBP250 million), the completion of which is subject to clearance
of the transaction by the Federal Trade Commission.
There has been no significant change in Bunzl's financial
position during the period and the Group continues to have
substantial funding headroom available. Bunzl's strong cash flow
and balance sheet, together with a promising acquisition pipeline,
should continue to give the Group opportunities to consolidate the
markets in which it operates and deliver further growth.
Enquiries:
Bunzl plc Tulchan
Frank van Zanten, Chief David Allchurch
Executive Stephen Malthouse
Brian May, Finance Director Tel: +44 (0)20 7353 4200
Tel: +44 (0)20 7725 5000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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