Annual results for year ended 31 December 2008

23 Feb 2009

Bunzl plc, the international distribution and outsourcing Group, today announces its annual results for the year ended 31 December 2008.  The results were:

• Revenue up 17% to £4,177.3 million (constant currency +8%)
• Operating profit before intangible amortisation up 15% to £280.5 million (constant currency +7%)
• Operating profit up 12% to £244.5 million (constant currency +4%)
• Profit before tax and intangible amortisation up 13% to £242.9 million (constant currency +5%)
• Profit before tax up 8% to £206.9 million (constant currency +1%)
• Earnings per share up 12% to 44.5p (constant currency +5%)
• Adjusted earnings per share* up 17% to 52.7p (constant currency +9%)
• Dividend for the year up 10% to 20.6p

Other highlights include:

• Higher underlying revenue growth in North America
• Continued strong cash flow
• Acquisition spend of £123 million including first step into the Brazilian market
• Good growth in new wholly owned sourcing operation in Shanghai

* before intangible amortisation

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

“We have again achieved good growth despite difficult economic conditions across our international markets.  As a highly cash generative business in relatively resilient markets, we have a strong financial position which will allow us to take advantage of appropriate opportunities as they arise”.

Michael Roney, Chief Executive of Bunzl, said:

“The Group once again had a successful year in 2008 due to a combination of organic growth, the positive acquisition impact in both new and existing geographies and the benefit of currency translation.  Numerous new customer wins reaffirm the strength of our product and service offering which positions us well for the future”.

Download the Annual results for year ended 31 December 2008 (PDF 246KB)

Enquiries:

Note:
A live webcast of today’s presentation to analysts will be available on here commencing at 9.30 am.