Bunzl plc, the international distribution and outsourcing Group, is updating the market today relating to the twelve months ending 31 December 2011 prior to entering its close period.
Overall trading has been consistent with expectations at the time of the Interim Management Statement in October. At constant exchange rates Group revenue growth for the year is expected to be over 6% due to underlying revenue growth of about 3.5% and the positive impact from acquisitions. There has also been an improvement in the Group operating margin.
Acquisitions remain an important part of the Group's growth strategy. The Company has announced ten acquisitions this year, investing £185 million, and overall the operating profit margin of the acquired companies is higher than the Group average. They are integrating well and the current environment for acquisitions remains positive with a promising pipeline.
Bunzl's strong cash flow and balance sheet should continue to enable the Company to take advantage of appropriate opportunities to consolidate further the markets in which it competes and increase shareholder value.
