Bunzl plc (LONBNZL), the specialist international distribution and services Group, is updating the market today relating to the year ending 31 December 2018 prior to entering its close period.
Overall performance is consistent with expectations at the time of the third quarter trading statement in October. Group revenue for the year is expected to increase by between 8% and 9% at constant exchange rates due to organic growth of more than 4% and a similar impact from acquisitions, net of disposals. Currency translation movements are expected to reduce the constant exchange revenue growth by between 3% and 4%.
Bunzl also announces that it has recently acquired CM Supply, a foodservice distributor based in Copenhagen, Denmark. The business is principally engaged in the supply of own brand and customised foodservice disposables and packaging to customers operating in the hotel, restaurant and catering sector and is forecast to achieve revenue in 2018 of DKK37 million (c.£4 million).
Finally, the Company confirms that the proposed acquisition of Volk do Brasil, which was announced on 23 October 2018, has been cleared by the Brazilian competition authority and is expected to be completed at the beginning of January 2019.