Bunzl PLC Trading Statement (6062S)
27 June 2018 - 4:00PM
UK Regulatory
TIDMBNZL
RNS Number : 6062S
Bunzl PLC
27 June 2018
27 June 2018
BUNZL PRE CLOSE STATEMENT
Bunzl plc, the international distribution and outsourcing Group,
is updating the market today relating to the six months ending 30
June 2018 prior to entering its closed period.
Overall trading is consistent with expectations at the time of
the first quarter trading statement in April. Group revenue for the
half year is expected to have increased by 11% at constant exchange
rates due to underlying growth of approximately 5% and an impact
from acquisitions, net of disposals, of approximately 6%. Currency
translation movements are expected to have reduced the constant
exchange revenue growth by approximately 6%. As anticipated, the
underlying revenue growth has returned to more normal levels during
the second quarter of 2018 as the additional grocery business won,
albeit at lower margins, in North America towards the end of 2016
has now been fully absorbed.
Bunzl also announces that it has recently sold its marketing
services business in the UK which has annual revenue of GBP46
million. The business was considered to be non-core as the
opportunities to expand overseas in the short to medium term were
limited and the Company therefore decided that it was an
appropriate time to sell the business.
Growth through acquisitions is an important part of the ongoing
strategy for Bunzl with total committed spend so far this year of
approximately GBP105 million. The pipeline for acquisitions remains
active and, with ongoing discussions taking place, the Company
expects to complete further transactions during the remainder of
the year.
Enquiries:
Bunzl plc Tulchan
Frank van Zanten, Chief Executive Martin Robinson
Brian May, Finance Director Jessica Reid
Tel: +44 (0)20 7725 5000 Tel: +44 (0)20 7353 4200
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END
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