Reuters logo
British firm Bunzl sees FY revenue boost from recent acquisitions
December 15, 2016 / 7:39 AM / 9 months ago

British firm Bunzl sees FY revenue boost from recent acquisitions

Dec 15 (Reuters) - British business supplies distributor Bunzl Plc forecast a rise of 14-15 percent in yearly revenue at actual exchange rates, as benefits from recent acquisitions continued to support its performance over the final quarter.

* The company, which supplies products ranging from safety gear for builders and packaging materials for supermarkets, said in a trading statement that at constant exchange rates revenue for the year ending Dec. 31 is expected to have risen 4-5 percent, with operating margin being unchanged.

* The company said it had seen a pick-up in underlying revenue in the fourth quarter, driven by recent business wins and an easing of the impact of price falls on plastic resin-based products.

* Bunzl said it had agreed this year to buy 13 businesses for 150 million pounds, adding to revenue by about 165 million pounds.

* The company, which indicated in August that it was still keen on purchasing smaller businesses in the UK after the country’s vote to leave the European Union, said on Thursday that the pipeline for acquisitions “remains active”.

* Bunzl, which buys smaller businesses to expand its operations or enter new markets and uses its scale to then drive growth, had reported a 5 percent rise in revenue to 6.49 billion pounds ($8.14 billion)for the year ended Dec 31, 2015. ($1 = 0.7973 pounds) (Reporting by Esha Vaish and Noor Zainab Hussain in Bengaluru; Editing by Sunil Nair)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below