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29 Feb 2016
Bunzl plc

Annual results for the year ended 31 December 2015

Bunzl plc, the international distribution and outsourcing Group, today publishes its annual results for the year ended 31 December 2015.

Financial results 2015 2014 Growth
as reported
at constant
Revenue £6,489.7m £6,156.5m 5% 5%
Adjusted operating profit* £455.0m £429.8m 6% 7%
Adjusted profit before income tax* £411.2m £387.8m 6% 8%
Adjusted earnings per
91.0p 86.2p 6% 7%
Dividend for the year 38.0p 35.5p 7%  
Statutory results        
Operating profit £366.5m £341.8m 7%  
Profit before income tax £322.7m £299.8m 8%  
Basic earnings per share 71.0p 64.5p 10%  

Highlights include:

  • Record acquisition spend of £327 million on 22 businesses, including the acquisition of Dental Sorria announced today, with entry into two new countries, Turkey and Austria
  • Good increases in revenue, adjusted operating profit* and adjusted earnings per share*
  • Group operating margin of 7.0% up 10 basis points at constant exchange rates
  • Operating margins up in North America, Continental Europe and UK & Ireland with the margin down in Rest of the World
  • Continued strong cash conversion with operating cash flow to operating profit* of 97%
  • Operating cash flow up 9% to £442.6 million
  • Long track record of dividend growth continues with an increase of 7% in the dividend for the year

* Before intangible amortisation and acquisition related costs
Before acquisition related costs

Commenting on today’s results, Michael Roney, Chief Executive of Bunzl, said:

“I am pleased to report that Bunzl has once again delivered a good set of results with adjusted operating profit and earnings per share up 7% at constant exchange rates as a result of the continued successful implementation of the Group’s consistent and proven strategy.

Following on from a record year for acquisitions in 2015, we have announced further acquisitions today and, with a promising pipeline, we expect to complete additional transactions as the year progresses. We believe that Bunzl’s strong competitive position, the impact of the significant acquisition spend in 2015 and the opportunities to consolidate our fragmented markets further will lead to continued growth in 2016.”


Bunzl plc

Michael Roney, Chief Executive David Allchurch
Brian May, Finance Director Stephen Malthouse
Tel: +44 (0)20 7725 5000 Tel: +44 (0)20 7353 4200

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

Annual results for the year ended 31 December 2015