highlights include:
Strong double digit percentage increases in revenue, operating profit and adjusted earnings per share
Acquisition spend of £295 million on 11 acquisitions in all business areas
Group operating margin up 20 basis points to 6.8%, with UK & Ireland back to 7.0%
Rest of the World operating profit up 65% at constant exchange rates to £51.2 million
Another year of strong cash flow with operating cashflow to operating profit of 102%
Net debt to EBITDA at same level of 1.8 times despite £280 million acquisition cash outflow
21 year track record of strong dividend growth continues with an increase of 15%
Commenting on today's results, Michael Roney, Chief Executive of Bunzl, said:
"I am pleased to report that Bunzl has delivered another excellent set of results with strong increases in revenue, operating profit, earnings and dividend. Organic growth, as we continued to gain additional business with existing customers combined with new customer wins, was bolstered further by acquisition activity with 11 acquisitions during the year.
We have announced two acquisitions today in Germany and the Czech Republic and we expect to complete further acquisitions in the coming months. We believe that an improving macroeconomic outlook, Bunzl's strong competitive position and the full year impact of the 2013 acquisitions should lead to good growth at constant exchange rates in 2014 as we continue to build value for our shareholders."
