28th Jun 2005 07:01
Bunzl PLC28 June 2005 Tuesday 28 June 2005 BUNZL PRE CLOSE STATEMENT Bunzl plc, the international distribution and outsourcing Group, is updating themarket today prior to entering the close period for the six months to 30 June2005. The Company announces that following the successful demerger of Filtronain early June it will be reporting the results of the Group's continuingoperations in three business segments: North America, UK & Ireland andContinental Europe & Australasia. Filtrona will be treated as a discontinuedoperation and the costs of the demerger will be highlighted as a specific itemin the income statement. In order to assist shareholders to assimilate theresults for the first half of 2005 when they are published on 30 August, theresults for the first half of 2004 and for the full year 2004 will be publishedin this format and under IFRS by the end of July. The Company also announces that: •Overall trading is expected to be in line with market estimates. •Sales in North America continue to progress well. As indicated at the time of the demerger, growth has continued as a result of acquisition activity and increased sales to higher growth areas such as redistribution, food processors, convenience stores and the jan/san market. Trading in the supermarket sector remains difficult. •UK & Ireland has continued its satisfactory sales growth largely as a result of continued penetration of the catering and retail markets. Cost control has remained tight and the business has also benefited from increased scale across Europe. •Continental Europe & Australasia has developed rapidly despite a difficult economic backdrop in the euro zone. The French business acquired in May 2004 has settled into the Group well and greatly strengthens Bunzl's position across Continental Europe, particularly in the cleaning and safety business. Other recent acquisitions, for example in Central Europe and the Netherlands, have also contributed to increased scale. •The search being undertaken by Spencer Stuart for a Chief Executive started early this month and is progressing. Bunzl's increased focus as an international value-added distribution andoutsourcing Group, its competitive position in its international markets and itsability to enhance growth through acquisitions give confidence that the Groupwill maintain its momentum and continue its positive development. Enquiries: Bunzl plc FinsburyAnthony Habgood, Chairman Roland RuddDavid Williams, Finance Director Tel: 020 7251 3801Tel: 020 7495 4950 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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