Bunzl : Pre Close Statement and Acquisiton in Denmark
December 13, 2018 at 02:31 am EST
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Bunzl plc, 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.
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
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Bunzl plc published this content on 13 December 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 13 December 2018 07:09:11 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%).