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16 May 2007 Bunzl Annual General Meeting
In a statement at today’s Annual General Meeting, Michael Roney, Chief Executive of Bunzl plc, said that the current level of trading was in line with expectations. Overall revenue growth is good with a lower level of organic growth in North America being offset by a stronger performance in the other geographic business areas. He added that the integration of Bunzl’s acquisitions completed in 2006 was continuing to plan. With respect to currency movements, he indicated that the year to date average value of the US dollar is significantly weaker than the comparable period in 2006 which will have a negative translation impact on the 2007 results for the half year. The recently announced share buy back programme is ongoing, consistent with the Board’s objective of operating with an appropriate balance sheet structure and its strategic priority of growing both organically and by acquisition.
He also stated that Bunzl’s strong market leadership position and growth potential give the Board confidence that the prospects of the Group are good and that the business will continue to develop successfully.
Enquiries:
Bunzl plc
Michael Roney, Chief Executive
Brian May, Finance Director
Tel: 020 7495 4950
Finsbury
Roland Rudd
Mark Harris
Tel: 020 7251 3801
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