By Bunzl, the distribution-and-outsourcing group, has announced a strong performance in its first-half results, with pretax profit increasing to £317.1 million compared to £296.6 million in the same period last year. This growth was supported by an increase in adjusted operating profit, which rose to £438.3 million from £411.4 million. Revenue for the six-month period reached £5.91 billion, up from £5.65 billion a year ago.
In light of these positive figures, Bunzl has decided to raise its interim dividend to 18.2 pence per share, compared to 17.3 pence previously.
Looking ahead, the London-listed company has upgraded its expectations for the full year. It now expects adjusted operating profit to be moderately higher than 2022 levels of £885.9 million, with an anticipated operating margin that is also moderately higher than the 7.4% achieved in 2022. This is a revised forecast as the company had previously expected margins to be slightly lower than 2022 levels.
Furthermore, Bunzl has provided revenue guidance for the full year, predicting figures to be slightly higher than the £12.04 billion reported in 2022. This growth is expected to be driven by the company’s recently announced acquisitions.
In line with its expansion plans, Bunzl has completed the acquisition of a business in Poland, marking its first venture into the country. It has also acquired another business in the Netherlands.
Overall, Bunzl’s performance in the first half of the year showcases its strong financial position and strategic growth initiatives. The company’s increased dividend and upgraded expectations for the full year reflect its confidence in continued success.
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