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Name | Symbol | Market | Type |
---|---|---|---|
Bunzl PLC (PK) | USOTC:BZLFY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.225 | 0.59% | 38.67 | 38.16 | 39.59 | 38.93 | 38.32 | 38.90 | 9,610 | 21:06:36 |
Bunzl PLC (BNZL.LN), the international distribution and outsourcing group, said Tuesday revenue growth for the year ending Dec 31 is expected to be between 3% and 4% due to underlying revenue growth and the positive impact from acquisitions and exchange.
MAIN FACTS:
-Excluding the impact from the previously announced sale of products related to H1N1 prevention last year, underlying revenue growth is approximately 1.5% as a result of a slight improvement in the second half growth rate compared to the first half of 2010.
-Overall trading is consistent with expectations at the time of the Interim Management Statement in October.
-In North America, the largest business area, underlying revenue growth is strong, albeit with some margin pressure, due largely to increased volumes to existing customers.
-In the U.K. & Ireland, although revenue is below that of the previous year due to the persisting difficult economic conditions, margins have increased significantly on 2009.
-Revenue and operating profit in Continental Europe were positively impacted by the sale of H1N1 prevention products in 2009, particularly in the second half; After adjusting for this impact, both revenue and operating profit are ahead of the prior year due to the impact of acquisitions.
-Strong underlying growth and substantial margin improvement has led to excellent profit growth in the Rest of the World.
-Acquisitions continue to be a key component of the Group's growth strategy; The current environment remains promising and discussions are ongoing with a number of interested parties.
-Bunzl's geographically diversified business, strong cash flow and robust balance sheet position the Company well to take advantage of appropriate opportunities to develop further.
-Shares closed Monday at 707.50 pence, valuing the Company at GBP2.33 billion.
-By Jana Weigand, Dow Jones Newswires; 44-20-7842-9314; jana.weigand@dowjones.com
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