Trading Statement

RNS Number : 3369X

Bunzl PLC

24 June 2008

 



24 June 2008

BUNZL PRE CLOSE STATEMENT

Bunzl plc, the international distribution and outsourcing Group, is updating the market today prior to entering the close period relating to the six months ending 30 June 2008.

The Company announces that:

• Group revenue growth is consistent with its recent Interim Management Statement and overall trading is in line with expectations.

• This strong overall revenue growth results from a combination of organic growth similar to that of 2007, the impact of acquisitions made in 2007 and 2008 and the positive translation effect of exchange rates, primarily the euro. To date three acquisitions have been announced in 2008 with total annualised revenue of £57 million.

• In North America the underlying revenue growth is at a similar level to the previous year.

• Revenue growth in the UK and Ireland has been strong due to good underlying growth and the impact of recent acquisitions, in particular Coffee Point and Irish Merchants. Southern Syringe Services, acquired in 2006, continues to improve its profitability and has already exceeded initial projections.

• Strong underlying revenue growth has continued in Continental Europe. The acquisition of King Benelux is integrating well and is contributing significantly to the results of the business area.

• The Rest of the World has grown significantly due to continued strong underlying growth and the 2008 acquisitions of Prot Cap and Salgo which are performing ahead of expectations.

The Board is pleased with progress to date. It is confident that Bunzl's geographically diversified business with market leading positions in relatively resilient sectors will generate further growth opportunities, both organically and through acquisitions, and expects the Group to continue to develop positively.

Enquiries:

Bunzl plc Michael Roney, Chief Executive Brian May, Finance Director Tel: [phone]

Tulchan David Allchurch Stephen Malthouse Tel: [phone]

 

END

 

 

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