Bunzl PLC Trading Statement (2578W)
April 17 2019 - 1:00AM
UK Regulatory
TIDMBNZL
RNS Number : 2578W
Bunzl PLC
17 April 2019
17 April 2019
BUNZL Q1 TRADING STATEMENT
AND ACQUISITION IN THE NETHERLANDS
Bunzl plc, the specialist international distribution and
services Group, today announces its trading statement for the
period since 31 December 2018.
Group revenue in the first quarter has increased 4% at actual
exchange rates. At constant exchange rates, revenue, adjusted for
the impact of the number of trading days in the quarter relative to
the prior year, rose by approximately 2.5%. Of this growth,
acquisitions, net of disposals completed in 2018, contributed 1%
with underlying revenue growth adding approximately 1.5%. The rate
of underlying revenue growth has slowed during the quarter due to
mixed macroeconomic and market conditions across the countries in
which the Group operates. In particular, the Company's business in
North America has experienced slower underlying growth of
approximately 1% as a result of slightly lower sales to customers
in the grocery and retail sectors, principally due to the lack of
both volume growth and product price inflation. There has however
been good growth in the safety, processor, agriculture and
convenience store sectors. The underlying revenue growth during the
quarter in Continental Europe, UK & Ireland and Rest of the
World overall was approximately 2%.
Bunzl also announces that it has recently acquired Coolpack, a
distributor based in the Netherlands principally engaged in the
supply of specialist packaging to supermarkets and the
pharmaceutical, food processor and foodservice sectors. Revenue in
2018 was EUR4 million.
Growth through acquisitions to consolidate the markets in which
the Company operates is an important part of Bunzl's consistent and
proven strategy. The pipeline of potential acquisitions is
promising and, with ongoing discussions taking place, the Company
expects to complete further transactions as the year
progresses.
Enquiries:
Bunzl plc Tulchan
Frank van Zanten, Chief Executive David Allchurch
Brian May, Finance Director Martin Robinson
Tel: +44 (0)20 7725 5000 Tel: +44 (0)20 7353 4200
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END
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