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Half yearly financial report for six months ended
30 June 2009
24 Aug 2009
Bunzl plc, the international distribution and outsourcing Group, today publishes its half yearly financial report for the six months ended 30 June 2009.
| H1 09 | H1 08 | Growth as reported |
Growth at constant exchange | |
|---|---|---|---|---|
| Revenue | £2,293.3m | £1,964.2m | 17% | -1% |
| Operating profit* | £132.1m | £128.6m | 3% | -13% |
| Profit before tax* | £115.5m | £110.8m | 4% | -11% |
| Adjusted earnings per share* | 25.1p | 23.7p | 6% | -10% |
| Interim dividend | 6.65p | 6.45p | 3% | |
| Operating profit | £111.2m | £111.6m | 0% | |
| Profit before tax | £94.6m | £93.8m | 1% | |
| Earnings per share | 20.4p | 19.8p | 3% |
Other highlights include:
- Underlying revenue growth of 2% in North America, the largest business area, at the same rate as the first halves of 2007 and 2008
- Operating margins in North America and Continental Europe (73% of Group revenue) have held up well
- Cost reduction initiatives implemented throughout the Group
- Continued strong cash flow with operating cash flow to operating profit* of 113% and funding headroom of £453 million
- Acquisition of W.K. Thomas and Industrial Supplies in the UK
* Before intangible amortisation
Commenting on today's results, Michael Roney, Chief Executive of Bunzl, said:
"Against the backdrop of difficult macroeconomic conditions, the Group has delivered largely robust results as we strengthened our position in the market due to new customer wins and additional business with existing customers. This, combined with the favourable impact of currency translation, the results of cost reduction initiatives across the world and our continued strong cash flow and balance sheet, should enable the Group to develop positively."
Enquiries:
| Bunzl plc | Tulchan |
| Michael Roney, Chief Executive | David Allchurch |
| Brian May, Finance Director | Stephen Malthouse |
| Tel: +44 (0)20 7725 5000 | Tel: +44 (0)20 7353 4200 |
Download the Half yearly financial report for six months ended 30 June 2009 (PDF 264KB).
Notes:
A live webcast of today's presentation to analysts will be
available on the Company's website at
www.bunzl.com commencing at
8.30 am. A copy of the presentation will also be available on the
website.
Changes to the Listing Rules of the United Kingdom Financial Services Authority have removed the requirement to issue a hard copy of the half yearly financial report to shareholders. Bunzl will therefore no longer be producing and distributing a half yearly financial report. If you require a hard copy of this report a copy is available at www.bunzl.com or please contact the Company by email (investor@bunzl.com) or telephone (+44 (0)20 7725 5000).
