Interim results for six months ended 30 June 2007

28 Aug 2007

Bunzl plc, the international distribution and outsourcing Group, today announces its interim results for the six months ended 30 June 2007.

• Revenue was £1,725.6 million (2006: £1,603.2 million), up 14% at constant exchange rates
• Operating profit before intangible amortisation was £111.7 million (2006: £104.8 million), up 13% at constant exchange rates
• Profit before tax and intangible amortisation was £100.3 million (2006: £97.8 million), up 9% at constant exchange rates
• Profit before tax was £89.1 million (2006: £88.1 million), up 8% at constant exchange rates
• Earnings per share were 18.3p (2006: 17.5p), up 12% at constant exchange rates
• Adjusted earnings per share* were 20.7p (2006: 19.3p), up 14% at constant exchange rates
• Interim dividend up 9% to 5.8p

Other highlights include:

• Underlying operating margin* excluding acquisitions up from 6.5% to 6.8%
• Competition clearance obtained for King Benelux acquisition which is expected to complete this week
• Recent acquisitions of King Benelux and Coffee Point take 2007 acquisition spend to over £140 million
• £90 million spent year to date on share buy back

* before intangible amortisation

Commenting on today's results, Anthony Habgood, Chairman of Bunzl, said:

"These are good results from Bunzl. They combine strong revenue growth with improving underlying margins and a good level of acquisition spend. They position the Group well for the future."

Michael Roney, Chief Executive of Bunzl, said:

"I am very pleased to report that in the first half we have delivered double digit growth at constant exchange rates in revenue, operating profit and adjusted earnings per share. This growth, together with the two recently announced acquisitions of King Benelux and Coffee Point, give us a strong platform and momentum for further success."

Download the Interim Results for Six Months Ended 30 June 2007 (PDF 188KB).

Note:
A webcast of today's presentation to analysts will be available here from 12 noon today.

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