Bunzl : Annual results for the year ended 31 December 2018
February 25, 2019 at 02:13 am EST
Share
Bunzl plc, the specialist international distribution and services Group, today publishes its annual results for the year ended 31 December 2018.
Financial results
2018
2017
Growth
as reported
Growth
at constant
exchange
Revenue
£9,079.4m
£8,580.9m
6%
9%
Adjusted operating profit*
£614.0m
£589.3m
4%
7%
Adjusted profit before income tax*
£559.0m
£542.6m
3%
6%
Adjusted earnings per
share*
129.6p
119.4p
9%
12%
Dividend for the year
50.2p
46.0p
9%
Statutory results
Operating profit
£466.2m
£456.0m
2%
Profit before income tax
£424.8m
£409.3m
4%
Basic earnings per share
98.4p
94.2p
4%
Highlights include:
Good increases in revenue, adjusted operating profit* and adjusted profit before income tax*
Adjusted earnings per share* increased by 12% at constant exchange rates to 129.6p
Strong organic revenue growth of 4.3% with all business areas contributing growth of 4% or more
Group operating margin* of 6.8%, down 10 basis points principally due to decreases in North America and UK & Ireland, partly offset by increases in Continental Europe and Rest of the World
Committed acquisition spend of £183 million, following a record year in 2017 (committed spend of £616 million), and the acquisition of Liberty Glove & Safety announced today
Return on average operating capital of 50.7% with return on invested capital of 15.0%
Continued strong cash conversion* of 94%
26 year track record of dividend growth continues with a 9% increase in the dividend for the year
* Alternative performance measure (see Note 1)
Commenting on today's results, Frank van Zanten, Chief Executive of Bunzl, said:
'Bunzl has once again delivered another good set of results with adjusted earnings per share up 12% at constant exchange rates. The strength, resilience and reliability of our consistent business model and strategy, together with the compounding effect of our ability to reinvest our strong cash flow to take advantage of market consolidation opportunities, have enabled Bunzl to produce a strong long term performance.
Looking forward, despite mixed macroeconomic conditions, with an active pipeline of acquisition opportunities we believe that the prospects of the Group are positive due to its strong market position and well established and successful strategy to grow the business both organically and by acquisition.'
Enquiries:
Bunzl plc
Tulchan
Frank van Zanten, Chief Executive
David Allchurch
Brian May, Finance Director
Martin Robinson
Tel: +44 (0)20 7725 5000
Tel: +44 (0)20 7353 4200
Note:
A live webcast of today's presentation to analysts will be available on the Company's website at www.bunzl.com commencing at 9.30 am.
Download the Annual results for the year ended 31 December 2018 (PDF 561KB)
Attachments
Original document
Permalink
Disclaimer
Bunzl plc published this content on 25 February 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 February 2019 07:11:08 UTC
Bunzl plc specializes in the distribution of hygiene and safety packages, products, and materials. The group also offers packaging products, restaurant items (cutlery, glassware, kitchen utensils, etc.), cleaning products (soaps, detergents, toilet paper, custodial products, polishes, washing machines, etc.), and personal protection equipment (gloves, masks, clothing, etc.).
Net sales break down by sector into food services (29.8%), grocery stores (26.1%), safety (14.8%), retail (9.6%), hygiene and cleaning (9.3%), healthcare (7%), and other (3.4%).
Net sales are distributed geographically as follows: the United Kingdom and Ireland (12%), Continental Europe (18%), North America (61.2%) and other (8.8%).