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British firm Bunzl reports higher-than-expected full-year profit
February 27, 2017 / 7:41 AM / 9 months ago

British firm Bunzl reports higher-than-expected full-year profit

Feb 27 (Reuters) - British business supplies distributor Bunzl Plc reported a better-than-expected 16 percent rise in full-year profit continuing to benefit from its recent acquisitions.

Bunzl, which supplies products ranging from safety gear for builders and packaging materials for supermarkets, said adjusted pretax profit rose to 478.2 million pounds ($594 million) in the year ended Dec. 31, from 411.2 million pounds a year ago.

It rose 6 percent at constant currencies.

Analysts on average had expected comparable profit of 470.6 million pounds, according to a company-compiled consensus.

“Against the backdrop of mixed macroeconomic and market conditions, we believe that our ... improving organic growth rates, recent customer wins and a promising acquisition pipeline will lead to continued overall growth,” Chief Executive Frank van Zanten said in a statement. ($1 = 0.8050 pounds) (Reporting by Esha Vaish in Bengaluru; Editing by Amrutha Gayathri)

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