Bunzl plc (LON: BNZL), the specialist international distribution and services Group, has today updated the market today prior to entering its closed period for the six months ending 30 June 2019.
The Group’s expectations for the year ending 31 December 2019 remain unchanged with overall trading consistent with the slowing underlying revenue growth indicated at the time of the first quarter trading statement in April.
Group revenue for the half year is expected to have increased by approximately 4% at actual exchange rates. At constant exchange rates, revenue, adjusted for the impact of the number of trading days in the period relative to the prior year, is expected to have risen by around 2% due to underlying revenue growth of approximately 1% and a similar impact from acquisitions, net of disposals completed in 2018.
Growth through acquisitions is an important part of the ongoing strategy for Bunzl with total committed spend so far this year of approximately £100 million. Bunzl plc state that the pipeline for acquisitions remains active and, with ongoing discussions taking place, the Company expects to complete further transactions during the remainder of the year.