27th Jun 2007 08:00
Bunzl PLC27 June 2007 27 June 2007 BUNZL CELEBRATES 50 YEARS AS A PUBLIC COMPANY Listed on the London Stock Exchange in June 1957, Bunzl today celebrates its50th anniversary as a publicly traded company. To mark the occasion Bunzl'sChairman, Anthony Habgood, today opened trading on the London Stock Exchange. Brief history From its origins in the mid-19th century as a haberdashery business inBratislava, Bunzl has developed considerably to where it stands today as aleading international distribution and outsourcing Group operating in 21countries spanning North America, Europe and Australasia and employing aworkforce of over 12,000. Successful refocusing on higher return areas In the 50 years since listing in London as a public company, Bunzl has beentransformed from a paper company to a diversified manufacturing and distributionbusiness and more recently to a focused, specialist distribution and outsourcingbusiness. This repositioning has been accelerated in the last five years with the sale ofthe UK fine paper distribution business in 2002 and the successful andsignificant demerger of Filtrona which became a separately listed FTSE250company in 2005 and marked a complete exit from Bunzl's manufacturingactivities. Since listing in 1957, annual revenue has increased from about £7 million to£3.3 billion in 2006 and over the same period profit before tax has risen fromabout £1 million to over £200 million. £1,000 invested in Bunzl in 1957 would beworth about £230,000 today. Bunzl today Bunzl now provides a "one-stop-shop" distribution and outsourcing serviceproviding a broad range of internationally sourced products which are essentialfor its customers to operate their businesses including grocery store supplies,foodservice packaging, catering equipment, cleaning and hygiene products,personal protection equipment and disposable healthcare products. Customers are keen to reduce storage space taken up by a wide variety ofproducts which they require but do not actually sell. By outsourcing thepurchasing, consolidation and distribution of a broad range of everyday items,Bunzl's customers are able to focus on their core businesses, achievesubstantial purchasing efficiencies and savings, free up working capital,improve distribution efficiencies and simplify their internal administration. Bunzl today has a strong independent Board which has overseen the implementationof a consistent strategy of focusing on its strengths and consolidating themarkets in which it competes, thereby building leading positions in a number ofbusiness sectors. Bunzl's growth strategy combines organic development withacquisitions that extend both geographical reach and the product lines it canserve. The Board is confident that Bunzl's strong market position and growthpotential will allow the Group to continue to increase shareholder value. Anthony Habgood, Chairman of Bunzl, said: "I am delighted to have opened the London Stock Exchange together with ourformer Chairman Ernest Beaumont who was a director at the time of the originallisting. Today marks a significant achievement in the history of Bunzl. Over thepast 50 years the Group has grown rapidly and developed its business model to befully focused on higher return, international distribution and outsourcingbusinesses. During its time as a public company, Bunzl has benefited from its ability toanticipate and respond rapidly to a constantly changing economic and businessclimate. As a result of this, shareholders in Bunzl have benefited with £1,000invested in Bunzl in 1957 worth about £230,000 today, considerably more than thesame amount invested in the all-share index." This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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