21st Mar 2018 13:19
LONDON (Alliance News) - Bunzl PLC said Wednesday Massachusetts Financial Services Co halved its stake in the FTSE 100-listed distribution firm in a transaction on Monday.
MFS held 16.4 million shares in Bunzl after the transaction, equivalent to a 4.9% stake in the 335.9 million shares outstanding. Prior to the transaction, MFS held a 9.6% stake in the firm.
In late February, Bunzl reported pretax profit rose 13% to GBP409.3 million in 2017 from GBP362.9 million the year prior. This was after revenue grew by 16% to GBP8.58 billion from GBP7.43 billion in 2016.
Shares in Bunzl were 0.7% lower at 2,044.00 pence on Wednesday.
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