BUNZL share price: growth reported in first half year reports

Distribution and services company, Bunzl announces half year results.

BUNZL share price: growth reported in first half year reports

BUNZL PLC (LON:BNZL) this morning issued impressive first half year reports, with its recent acquisitions boosting the company’s growth.

Acquisitions and European growth responsible for success

The news has seen the company share price rise by almost 2 per cent this morning, currently sitting at 2,371.00 GBX +41.00 (1.76%) on the UK FTSE 100 Index, which is currently standing at 7627.72 points, up 0.66 per cent as of 9.27 BST.

Revenue increases

The first half report cited a revenue increase of 5% to £4.34bn (up from £4.1bn the previous year), with acquisitions and outsourcing in Europe offsetting the weak performances in their North America holdings. Interim Dividends were also raised by 9% to 15.2p (compared to the previous years’ 14.0p), as a result of growth.

Latest acquisition signals continued growth

Bunzl PLC also announced its latest acquisition of Enor AS, a Norwegian catering equipment firm, which supplies equipment to hospitals, hotels and restaurants. ENOR AS revenue was set at £27mn last year, so the acquisition looks set to further bolster Bunzl PLC’s success.

Further growth through acquisitions for remaining half of the financial year

In the first half report, Bunzl PLC (LON:BNZL) also stated that it had set a further £132mln aside for additional acquisitions. A statement issued by Chief Executive, Frank Ban Zanten, read: “Looking forward to the rest of the year, the board is confident that the prospects for the group are positive and that the company will continue to develop the business and build shareholder value through a combination of organic growth and further acquisitions as the year progresses,”

 

As of 09:32 BST, Tuesday, 28 August, Bunzl plc share price is 2,356.50p.

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