20th Apr 2016 06:22
LONDON (Alliance News) - Outsourcing and distribution group Bunzl PLC on Wednesday said revenue grew in the first quarter of 2016 and said it is on track for the year ahead.
The FTSE 100-listed company said group revenue for the quarter to the end of March grew 13% year-on-year in reported exchange rates and 10% in constant currencies.
Half the constant currency growth was driven by acquisitions, with the rest driven by additional trading days for the group compared to the year earlier, the company said.
Bunzl said there was no significant change to its financial position in the quarter, and it continues to have substantial headroom to pursue further acquisitions.
Michael Roney, Bunzl's chief executive, will step down after the annual general meeting of the company on Wednesday, handing over to Frank van Zanten.
By Sam Unsted; [email protected]; @SamUAtAlliance
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