Bunzl : sees higher profit margin, revenue growth; shares hit record high

(Reuters) - Bunzl Plc said on Wednesday it expects a slightly higher operating profit margin and stronger revenue growth in the second half, boosted by robust demand for the protective masks and gloves it has supplied in the COVID-19 crisis.

Shares of the company, which distributes products ranging from disposable tableware to latex gloves and cleaning chemicals to private and government sectors, rose about 6% to a record high of 2,710 pence to be perched at the top of the FTSE 100 index.

Bunzl said group revenue for the third quarter was up 4% at actual exchange rates and 8.8% at constant exchange rates.

"The 2020 performance year to date has been driven by strong sales of COVID-19 related products, from a combination of smaller orders and the more exceptional larger orders," the company said in a trading statement.

Bunzl resumed dividends in August as it reported first-half profit and revenue that surpassed analysts' expectations.

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Aditya Soni)