Bunzl pre close statement

Bunzl plc, the international distribution and outsourcing Group, is updating the market today relating to the six months ending 30 June 2015 prior to entering its close period.

Overall performance is consistent with expectations at the time of the first quarter trading statement in April. Group revenue for the half year is expected to have increased by 6% due to growth at constant exchange rates of approximately 5% and the effect of positive currency exchange translation of about 1%. The growth at constant exchange rates reflects organic revenue growth of 1% with the remainder due to the positive impact of acquisitions. The lower organic growth compared to the same period in 2014 is mainly due to slower growth in North America caused by the net impact of some lost business and price declines on plastic resin based products.

Acquisitions are a key component of the Group’s growth strategy. Including the four acquisitions announced today, the Company has acquired or agreed to acquire 10 businesses so far in 2015 with a total year to date committed acquisition spend of more than £210 million. The pipeline for further acquisitions during the second half of the year is good.

Bunzl’s strong cash flow, balance sheet and continuing acquisition opportunities should enable the Group to consolidate further the markets in which it competes and increase shareholder value.

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Bunzl pre close statement 2015