Bunzl PLC
14 December 2005
14 December 2005
BUNZL PRE CLOSE STATEMENT
Bunzl plc, the international distribution and outsourcing Group, is updating the
market today prior to entering the close period for the year to 31 December
2005. Following Mike Roney's appointment as Chief Executive on 1 November,
Australasia is now treated as a separate business segment reporting directly to
him. Therefore the Group's results will be presented in four business segments:
North America, UK & Ireland, Continental Europe and Australasia. For comparison
purposes the revenue and operating profit for Australasia for 2004 and the first
half of 2005 were £78.4m and £6.4m and £47.2m and £3.3m respectively.
The Company also announces that:
• Overall trading is expected to be in line with market estimates.
• The good sales progress seen in North America in the first half of 2005
has continued, supported by generally firm product prices resulting from
higher commodity input prices to suppliers. During the second half the
pace of acquisition activity has increased. The acquisitions of SOFCO,
Mendenhall, Retail Resources and Weiss have enabled Bunzl to develop
further its positions in the higher growth redistribution and non-food
retail areas in particular, while adding marginally to the traditional
supermarket area where trading continues to be more difficult than in
other sectors.
• In the UK & Ireland growth continues to be satisfactory though general
economic activity has softened in the second half of 2005. The business
continues to benefit from the ongoing refinement of the operating
platform.
• Continental Europe has performed well in spite of the lethargic economic
growth in the euro zone. The new acquisitions are being integrated and
are contributing to the strong development of this business area.
• Australasia has continued its above Group average growth rate in 2005.
The Sanicare acquisition completed in July has opened up a new front to
service the growing healthcare market. Cooperation with other business
areas continues to offer new sourcing opportunities.
• Annualised revenue of the acquisitions completed in 2005 is c.£270m.
This strong acquisition activity, particularly in the second half of the
year, is encouraging and the process of integration is ongoing.
Enquiries:
Bunzl plc Finsbury
Michael Roney, Chief Executive Roland Rudd
Brian May, Finance Director designate Morgan Bone
Tel: 020 7495 4950 Tel: 020 7251 3801
This information is provided by RNS
The company news service from the London Stock Exchange
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