Selloff or Market Correction? Either Way, Here's What to Do Next!See Overvalued Stocks

Bunzl expects to report 17% jump in annual revenue

Published 21/12/2022, 09:30
© Reuters.
BNZL
-

By Scott Kanowsky 

Investing.com -- Bunzl PLC (LON:BNZL) says it expects to deliver a surge in top-line growth in 2022, thanks largely to inflation and a string of acquisitions worth more than a quarter of a billion pounds.

Group revenue at the British distribution specialist is seen rising by about 17% year-on-year at actual exchange rates and 10% at constant exchange rates, according to a trading update released on Wednesday.

Adjusted operating margin for the 12-month period ending on December 31 is anticipated to be in line with the last year's mark of 7.3% at constant exchange rates and above historic levels.

"Our teams have successfully navigated the inflationary environment and supply chain disruption experienced this year to ensure customers have reliably received the essential products they need," said chief executive officer Frank van Zanten in a statement.

He also credited a positive effect from the more than £280 million (£1 = $1.2151) Bunzl has spent this year to build up new business pipelines. The announcement comes a day after the firm, which supplies everything from hard hats to disposable cutlery, agreed to acquire four businesses and sell its U.K. healthcare unit.

The purchases included New Zealand-based ophthalmology products distributor Toomac, Australian medical technology devices business GRC, Czech personal protection equipment maker VM Footwear, and Danish packaging products firm PM Pack. Bunzl will also offload its British healthcare division - which generated £216M in revenue in 2021 - to Dutch company Mediq.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.