Bunzl plc, the international distribution and outsourcing Group, is updating the market today relating to the six months ending 30 June 2012 prior to entering its close period.
Overall trading is consistent with expectations at the time of the Interim Management Statement in April. At constant exchange rates Group revenue growth for the period is expected to be approximately 7% due to underlying revenue growth of about 4% and the impact from acquisitions and the disposal of the UK Vending business in August last year. There has also been a slight improvement in the Group operating margin as a result of the impact of the acquisitions completed in 2011 and the sale of the UK Vending business.
Acquisitions remain an important part of the Group's growth strategy. Including the acquisition of Service Paper announced today, the Company has completed five acquisitions year to date with annualised revenue of approximately £130 million. The current environment for acquisitions remains positive with a promising pipeline of opportunities.
Bunzl's strong cash flow and balance sheet should continue to enable the Company to take advantage of appropriate opportunities to consolidate further the markets in which it competes and increase shareholder value.
Michael Roney, Chief Executive
Brian May, Finance Director
Tel: 020 7725 5000
Tel: 020 7353 4200
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