29th Feb 2016 07:12
LONDON (Alliance News) - Distribution and outsourcing company Bunzl PLC on Monday said its pretax profit and revenue grew in 2015, mainly through the acquisitions it has made, and as it reported yet more bolt-on deals.
The FTSE 100-listed group said pretax profit rose 7.0% to GBP322.7 million from GBP299.8 million in 2014, as revenue increased 5.0% to GBP6.49 billion from GBP6.16 billion and operating margin improved 10 basis points to 7.0%.
Bunzl will pay a final dividend of 26.25 pence, taking its total dividend up to 38.0p per share, a 7.0% rise year-on-year.
The revenue growth was driven primarily by acquisitions, the company said, as organic growth for the company remained broadly flat. The company made 22 acquisitions for a total of GBP327.0 million over the course of the year, including Brazil's Dental Sorria Ltda, a dental supplies business it announced the acquisition of on Monday but bought in December.
In addition to Dental Sorria, Bunzl announced another two acquisitions on Monday, of Earthwise Bag Co, a reusable bags supplier based in California, and Bursa Pazari Insaat Sanayi ve Ticaret AS, a Turkish food packaging company company. No financial details were disclosed on the new acquisitions.
"Following on from a record year for acquisitions in 2015, we have announced further acquisitions today and, with a promising pipeline, we expect to complete additional transactions as the year progresses. We believe that Bunzl's strong competitive position, the impact of the significant acquisition spend in 2015, and the opportunities to consolidate our fragmented markets further will lead to continued growth in 2016," said Chief Executive Michael Roney.
By Sam Unsted; [email protected]; @SamUAtAlliance
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