Bunzl share price: Group delivers robust full-year results
Bunzl (LON:BNZL) has reported a robust full-year performance, underpinned by the group’s strategy of growth by acquisition.
The FTSE 100 distribution and outsourcing gaint said in a statement today that profit before tax had risen eight percent to £322.7 million, on revenues up five percent to £6.5 billion. The board recommended a final dividend of 26.25p, taking the total dividend for the year to 38p — an increase of seven percent on 2014.
“I am pleased to report that Bunzl has once again delivered a good set of results… as a result of the continued successful implementation of the Group’s consistent and proven strategy,” CEO Michael Roney stated. “Following on from a record year for acquisitions in 2015, we have announced further acquisitions today and, with a promising pipeline, we expect to complete additional transactions as the year progresses,” he added.
Bunzl spent a record £327 million on acquisitions during the 12 month period, including the December purchase of Dental Sorria revealed in a separate announcement today, with entry into two new markets — Turkey and Austria.
Looking ahead, Roney said: “We believe that Bunzl’s strong competitive position, the impact of the significant acquisition spend in 2015 and the opportunities to consolidate our fragmented markets further will lead to continued growth in 2016.”
Bunzl’s share price has fallen today, in line with the broader UK stock market trend. As of 15:22 GMT, the stock was changing hand at 1,922.12p, 0.63 percent down intraday. Meanwhile, the FTSE 100 had lost 0.29 percent to stand at 6,078.39 points.
As of 15:49 GMT, Monday, 29 February, Bunzl plc share price is 1,923.50p.