Bunzl PLC
27 June 2006
27 June 2006
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
2006.
The Company announces that:
• Overall trading is expected to be in line with market estimates.
• Revenue in North America remains strong aided by good underlying
growth, supported by upward pressure from product prices, and the impact of
recently acquired businesses. The acquisitions made in the second half of 2005,
at lower than the Group's average margins, are now largely integrated on to the
Company's IT platform and are expected to show benefits in future periods.
• In the UK and Ireland, revenue is growing despite weaker market
conditions. Tight cost control, supported by additional operating efficiencies,
continues to offset rising operating costs.
• Revenue in Continental Europe continues to develop well due to a
combination of good organic growth across all countries and the impact of
acquisitions.
• Strong overall revenue growth in Australasia has resulted from
satisfactory underlying performance and the effect of acquisitions made since
the first half of 2005. As previously announced for comparison purposes, the
revenue and operating profit for Australasia for the first half of 2005 were
£47.2 million and £3.3 million respectively.
• Year-to-date the Company has announced four acquisitions, one in
each Business Area. The acquisition outlook remains promising and further
activity is expected in the coming period.
Bunzl's strategy of pursuing organic growth, continuing to refine its operating
model, expanding international sourcing and growing through acquisitions will
continue to allow the Group to progress satisfactorily.
Enquiries:
Bunzl plc Finsbury
Michael Roney, Chief Executive Roland Rudd
Brian May, Finance Director 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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