Bunzl holds guidance as Q1 revenue grows despite political uncertainty

(Sharecast News) - Logistics specialist Bunzl reiterated full year guidance despite an uncertain geopolitical and macroeconomic environment after a rise in first quarter revenues.

The company said it continued to expect operating margins to be slightly lower year on year with "some underlying revenue growth and a small benefit from acquisitions" after group revenue in the first quarter grew by 1.5% at constant exchange rates supported by volume growth and tariff-related price increases.

Underlying revenue grew by 2%. Acquisitions net of disposals contributed growth of 0.6%, while fewer trading days in the period impacted revenue by 1.1%, Bunzl added in a trading statement on Wednesday.

At actual exchange rates, group revenue decreased by 0.4%. Adjusted operating profit over the period was consistent with our expectations "for a more stable performance in 2026".

Chief executive Frank van Zanten said there continued to be a significant consolidation opportunity for the company: "Our pipeline is active and we see an improved outlook for acquisitions in 2026 compared to the prior year."

Reporting by Frank Prenesti for Sharecast.com

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