Bunzl delivers small profit increase for 2014.

23rd Feb 2015 07:26

Distribution group Bunzl published its full-year results for 2014 on Monday, revealing a small increase in pre-tax profit, as the company announced its latest two acquisitions, Quirumed in Spain and Jan-Mar Sales in Canada.Statutory profit before tax advanced 3% to £299.8m while revenue experienced a 1% boost to £6.16bn, though growth was held back by foreign exchange movements.Adjusted operating profit rose 4% to £429.8m as the operating margin rose 20 basis points to 7%."The board is confident that Bunzl's well positioned businesses will develop further and that the prospects for the group are positive," the company said.Meanwhile, Bunzl purchased Quirumed, a Spanish company with reported revenue worth €18m in 2014. It also purchased Jan-Mar Sales in Canada, a company worth CAD$12m for the year ended 31 January 2015. The company claimed that it spent £211m on 17 acquisitions in 2014.Bunzl chief executive Michael Ronay said: "We expect to complete further transactions as the year progresses. This acquisition activity, together with the ongoing development of the underlying business, should lead to further growth in 2015."While the company reported a net debt worth £849.5 as of the end of the year, it declared a dividend up 10% on the previous year to 35.5p.