13th Dec 2018 08:33
LONDON (Alliance News) - FTSE 100-listed distribution and outsourcing company Bunzl PLC said on Thursday that its performance in 2018 so far was in line with expectations.
Group revenue for 2018 is expected to increase by up to 9% at constant exchange rates due to organic growth of around 4% and a similar effect from acquisitions, net of disposals.
Currency translation movements, however, are expected to reduce constant exchange revenue growth at by up to 4%.
In addition, Bunzl said it has acquired Denmark-based foodservice distributor CM Supply, which supplies foodservice disposables and packaging to customers in the hotel, restaurant and catering sector. CM Supply is forecast to make revenue of GBP4 million for 2018.
Also, the group said its acquisition of personal protection equipment distributor Volk do Brasil has been cleared by the Brazilian competition authority, and the transaction is set to be completed at the start of January 2019.
Shares in Bunzl were up 1.9% at 2,452.00 pence on Thursday.
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