Bunzl growth picks up

14th Dec 2010 07:39

Bunzl has seen a slight improvement in its second half growth rate compared to the first half of 2010.The distributor of a whole range of disposables expects group revenue growth for the year to be between 3% and 4% driven by underlying revenue growth and the positive impact from acquisitions and exchange. Stripping out business now sold, underlying revenue growth was approximately 1.5%. By region, North America is seeing strong underlying revenue growth but with margin pressure. In the UK & Ireland it is the reverse with revenues lower though margins have increased 'significantly' on 2009. Continental Europe revenue and operating profit are ahead of the prior year due to the impact of acquisitions, while Bunzl reports excellent profit growth in the Rest of the World.