British firm Bunzl reports higher-than-expected full-year profit
British business supplies distributor Bunzl Plc reported a better-than-expected 16 percent rise in full-year profit continuing to benefit from its recent acquisitions.
British business supplies distributor Bunzl Plc reported a better-than-expected 16 percent rise in full-year profit continuing to benefit from its recent acquisitions.
Bunzl, which supplies products ranging from safety gear for builders and packaging materials for supermarkets, said adjusted pretax profit rose to 478.2 million pounds ($594 million) in the year ended Dec. 31, from 411.2 million pounds a year ago.
It rose 6 percent at constant currencies.
Analysts on average had expected comparable profit of 470.6 million pounds, according to a company-compiled consensus.
"Against the backdrop of mixed macroeconomic and market conditions, we believe that our ... improving organic growth rates, recent customer wins and a promising acquisition pipeline will lead to continued overall growth," Chief Executive Frank van Zanten said in a statement. ($1 = 0.8050 pounds)
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)