Good increases at constant exchange rates in revenue, adjusted operating profit* and adjusted earnings per share*
Group operating margin up 10bp to 7.1% benefitting from acquisitions
Committed acquisition spend of £184 million on 14 businesses; one further acquisition announced today
Return on average operating capital of 55.9% with return on invested capital of 16.7%
Continued strong cash conversion (operating cash flow† to adjusted operating profit*) of 99%
24 year track record of dividend growth continues with an 11% increase in the dividend for the year
Commenting on today's results, Frank van Zanten, Chief Executive of Bunzl, said:
"Bunzl has delivered another good set of results in 2016. The strength, resilience and reliability of our business model and strategy that we have applied consistently over many years, together with the compounding effect of our high cash conversion and our ability to take advantage of market consolidation opportunities, have enabled Bunzl to produce a strong long term performance.
I am also delighted that we have been able to announce the acquisition of LSH in Singapore following which we now have operations across 30 countries globally.
Looking forward, against the backdrop of mixed macroeconomic and market conditions, we believe that our well positioned portfolio of international businesses and improving organic growth rates, recent customer wins and a promising acquisition pipeline will lead to continued overall growth for the Group."