Bunzl's expectations unchanged as revenue growth slows
Bunzl said on Wednesday that its expectations for 2019 remain unchanged as the company continues to anticipate slowing revenue growth amid mixed macroeconomic and market conditions.
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The international distribution and services group said it expects interim revenue growth of 2% at constant exchange rates, down from 12% over the same period last year, due to underlying revenue growth of approximately 1% and a similar impact from acquisitions.
Bunzl warned of slowing growth back in April as mixed macroeconomic and market conditions damaged the North American business, with sales in the region's grocery and retail sectors sluggish amid a lack of both volume growth and product price inflation.
The FTSE 100 company said its pipeline for acquisitions remains active and, with ongoing discussions taking place, it is expected that further transactions will be completed in the remainder of the year following the acquisition of California-based safety company Liberty Glove & Safety in February.
Bunzl's shares were 0.61% lower at 2,133.00p at 0803 BST.