16th Dec 2015 07:37
LONDON (Alliance News) - Outsourcing and distribution group Bunzl PLC on Wednesday said trading remains in line with its expectations as it announced a trio of new acquisitions.
The FTSE 100-listed company, which sources and delivers goods to the food service, grocery, cleaning and hygiene and healthcare industries, said trading has been in line with trends seen in the third quarter in the final months of 2015, and it expects constant currency revenue to grow around 5.0% for the full year.
The group said the growth in revenue will be principally driven by acquisitions and some organic growth, though the latter continues to be affected by price declines on plastic resin-based products, particularly in North America.
Bunzl said its operating margin for the year should be broadly flat.
The group also said it has made three new acquisitions, respectively in France, Chile and Spain. It has acquired Comatec SAS in France, which distributes tableware to restaurants and hotels, Emilio Saray Y Compania Limitada on Chile, which distributes catering products, and Faru SL in Spain, which sells personal protection equipment.
No financial details were disclosed on any of the acquisitions, though Bunzl said it has now made 21 acquisitions in 2015 for a total of GBP320.0 million, a record single-year spend for the company.
By Sam Unsted; [email protected]; @SamUAtAlliance
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