Interim Management Statement

RNS Number : 4003U

Bunzl PLC

14 May 2008

 



14 May 2008

BUNZL INTERIM MANAGEMENT STATEMENT

Bunzl plc, the international distribution and outsourcing Group, announces its first interim management statement to coincide with its Annual General Meeting today.  

Trading for the four months ended 3 May 2008 has been consistent with expectations at the time of the preliminary results announcement in February.  Strong performance has continued in 2008 due to a combination of organic growth, the positive impact of acquisitions, particularly those made in the second half of 2007 (notably Coffee Point, King Benelux and Irish Merchants), and the strengthening of the euro.  Group revenue in the period was 12% ahead of the prior year. 

Acquisitions remain an important part of the Group's growth strategy and the Company has to date announced three acquisitions in 2008 with total annualised revenue of £57 million.  In January Günter Guest Supplies, which is based in Germany and supplies guest amenity products throughout Europe, was acquired and in February the acquisition of Prot Cap, a supplier of personal protection equipment, marked the Company's entry into the Brazilian market.  Finally the purchase of Salgo, which is principally engaged in the distribution of catering equipment and supplies throughout eastern Australia, was completed in April. 

The Board is pleased with the start to the year and remains confident that the continued strong financial position of the Group and its market leading positions in the diversified and resilient sectors in which it operates, combined with opportunities for further growth, position Bunzl well for the future.  

Enquiries:

Bunzl plc Michael Roney, Chief Executive Brian May, Finance Director Tel: [phone]

Tulchan David Allchurch Stephen Malthouse Tel: [phone]

 

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