Bunzl sees revenue growth of 11 per cent

26th Jun 2013 07:05

Distribution and outsourcing group Bunzl said overall trading remains in line with company expectations and is unchanged from its last update in April. At constant exchange rates group revenue growth for the six months ending June 30th is expected to be approximately 11% due to underlying revenue growth of about 2% and the positive impact of acquisitions. Group operating margin for the period is expected to be at the same level as the first half of 2012, Bunzl explained "As previously indicated, the results will be impacted by a higher net finance cost resulting from increased acquisition spend, additional longer term fixed rate borrowings and the introduction of the revised accounting standard IAS19," it said. Group results for the first half are expected to have a positive currency exchange translation impact of between 1.0% and 2.0%.Bunzl noted, "Acquisitions are a key component of the group's growth strategy and year to date the company has completed four acquisitions with annualised revenue of more than £150m.""The current environment for acquisitions remains positive with a promising pipeline of opportunities."CJ