Highlights include:
Committed acquisition spend year to date of £241 million on 14 businesses, including the four acquisitions announced today, with entry into two new countries, Turkey and Austria
Good increases at constant exchange rates in revenue, adjusted operating profit* and adjusted earnings per share*
Group operating margin of 6.6% at same level as last year at constant exchange rates
Operating margins up in Continental Europe and UK & Ireland with the margin in North America stable and the margin down in Rest of the World due to challenging macroeconomic conditions and some negative foreign exchange transaction impact in certain markets
Continued strong cash conversion with operating cash flow to operating profit of 96%
Long track record of dividend growth continues with an increase of 7% in the interim dividend
Commenting on today's results, Michael Roney, Chief Executive of Bunzl, said:
"Bunzl has produced another good set of results due to a combination of organic revenue growth, the impact of recent acquisition activity and the continued focus on improving the efficiency of our operations. Our consistent and proven strategy has once again delivered a successful period of growth for the Group.
There has been an excellent level of acquisition activity so far this year. With a promising pipeline of opportunities and ongoing discussions taking place, we expect to complete a number of additional acquisitions during the rest of the year."
