Bunzl PLC Trading Statement (2751Z)
December 14 2017 - 1:00AM
UK Regulatory
TIDMBNZL
RNS Number : 2751Z
Bunzl PLC
14 December 2017
14 December 2017
BUNZL PRE CLOSE STATEMENT AND ACQUISITION IN THE UK
Bunzl plc, the international distribution and outsourcing Group,
is updating the market today relating to the year ending 31
December 2017 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 approximately 15% at
actual exchange rates. At constant exchange rates revenue is
expected to have risen by between 9% and 10% due to similar levels
of growth from both organic revenue and the impact of acquisitions.
The growth in organic revenue is principally due to the previously
announced additional business won, albeit at lower margins, in
North America towards the end of 2016.
The ability to consolidate the Company's fragmented markets
through acquisitions is an important part of the ongoing strategy
of Bunzl and the Company also today announces the purchase of
Lightning Packaging in the UK. The business is principally engaged
in the distribution of industrial packaging products to a variety
of end user customers operating in a number of market sectors
throughout the UK. Revenue in the year ended March 2017 was GBP14
million.
This year has seen a record level of acquisition spend for Bunzl
of approximately GBP600 million which significantly exceeds the
previous high of GBP327 million achieved in 2015. The pipeline for
acquisitions remains active.
Enquiries:
Bunzl plc Tulchan
Frank van Zanten, Chief David Allchurch
Executive Martin Robinson
Brian May, Finance Director Tel: +44 (0)20 7353 4200
Tel: +44 (0)20 7725 5000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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