Bunzl maintains high growth
| 15 December, 2017
Distribution and outsourcing group Bunzl has reported that its revenue for the year at constant exchange rates is expected to have increased by between 9% and 10% due to similar levels of growth from both organic revenue and the impact of acquisitions.
The growth in organic revenue is principally due to the previously announced additional business won, albeit at lower margins, in North America towards the end of 2016.
The ability to consolidate its fragmented markets through acquisitions is an important part of the ongoing strategy of Bunzl and it also announced the purchase of Lightning Packaging in the UK.
This year has seen a record level of acquisition spend for Bunzl of approximately £600 million which significantly exceeds the previous high of £327 million achieved in 2015. The pipeline for acquisitions remains active.