Bunzl PLC Trading Statement (8974R)
December 15 2016 - 2:00AM
UK Regulatory
TIDMBNZL
RNS Number : 8974R
Bunzl PLC
15 December 2016
15 December 2016
BUNZL PRE CLOSE STATEMENT
Bunzl plc, the international distribution and outsourcing Group,
is updating the market today relating to the year ending 31
December 2016 prior to entering its close period.
Overall trading is consistent with expectations at the time of
the third quarter trading statement in October. Group revenue for
the year is expected to have increased by between 14% and 15% at
actual exchange rates. At constant exchange rates revenue is
expected to have risen by between 4% and 5% with the Group
operating margin at the same level as the prior year.
Consistent with the trends seen during the first three quarters
of 2016, the revenue growth for the year is principally due to the
impact of acquisitions. However, while underlying revenue did not
increase during the first three quarters of the year, there has
been a pick up during the fourth quarter due to some recent
business wins and the abatement of the impact of price declines on
plastic resin based products.
Growth through acquisitions and the ability to consolidate the
Company's fragmented markets further is an important part of the
ongoing strategy of Bunzl. The Group has agreed this year to
acquire 13 businesses for a committed spend of approximately GBP150
million, adding annualised revenue of approximately GBP165 million
and the pipeline for acquisitions remains active.
Enquiries:
Bunzl plc Tulchan
Frank van Zanten, Chief David Allchurch
Executive Stephen Malthouse
Brian May, Finance Director Tel: 020 7353 4200
Tel: 020 7725 5000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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