Bunzl PLC
28 June 2005
Tuesday 28 June 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 six months to 30 June
2005. The Company announces that following the successful demerger of Filtrona
in early June it will be reporting the results of the Group's continuing
operations in three business segments: North America, UK & Ireland and
Continental Europe & Australasia. Filtrona will be treated as a discontinued
operation and the costs of the demerger will be highlighted as a specific item
in the income statement. In order to assist shareholders to assimilate the
results for the first half of 2005 when they are published on 30 August, the
results for the first half of 2004 and for the full year 2004 will be published
in this format and under IFRS by the end of July.
The Company also announces that:
•Overall trading is expected to be in line with market estimates.
•Sales in North America continue to progress well. As indicated at the
time of the demerger, growth has continued as a result of acquisition
activity and increased sales to higher growth areas such as redistribution,
food processors, convenience stores and the jan/san market. Trading in the
supermarket sector remains difficult.
•UK & Ireland has continued its satisfactory sales growth largely as a
result of continued penetration of the catering and retail markets. Cost
control has remained tight and the business has also benefited from
increased scale across Europe.
•Continental Europe & Australasia has developed rapidly despite a
difficult economic backdrop in the euro zone. The French business acquired
in May 2004 has settled into the Group well and greatly strengthens Bunzl's
position across Continental Europe, particularly in the cleaning and safety
business. Other recent acquisitions, for example in Central Europe and the
Netherlands, have also contributed to increased scale.
•The search being undertaken by Spencer Stuart for a Chief Executive
started early this month and is progressing.
Bunzl's increased focus as an international value-added distribution and
outsourcing Group, its competitive position in its international markets and its
ability to enhance growth through acquisitions give confidence that the Group
will maintain its momentum and continue its positive development.
Enquiries:
Bunzl plc Finsbury
Anthony Habgood, Chairman Roland Rudd
David Williams, Finance Director Tel: 020 7251 3801
Tel: 020 7495 4950
This information is provided by RNS
The company news service from the London Stock Exchange
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