Bunzl share price in focus as company posts trading update
Bunzl Plc (LON:BNZL) has this morning updated markets on its recent performance.
**Highlights from the company statement:**
Overall performance is consistent with expectations at the time of the first quarter trading statement in April. Group revenue for the half year is expected to have increased by 6% due to growth at constant exchange rates of approximately 5% and the effect of positive currency exchange translation of about 1%. The growth at constant exchange rates reflects organic revenue growth of 1% with the remainder due to the positive impact of acquisitions. The lower organic growth compared to the same period in 2014 is mainly due to slower growth in North America caused by the net impact of some lost business and price declines on plastic resin based products.
Acquisitions are a key component of the Group’s growth strategy. Including the four acquisitions announced today, the Company has acquired or agreed to acquire 10 businesses so far in 2015 with a total year to date committed acquisition spend of more than £210 million. The pipeline for further acquisitions during the second half of the year is good.
**More to follow…**
As of 07:07 BST, Tuesday, 23 June, Bunzl plc share price is 1,891.00p.