The Board is recommending a final dividend of 45.4p, 11.3% higher than the prior year, resulting in a full year dividend of 62.7p. This represents a 10.0% increase compared to the 2021 total dividend and is Bunzl's 30th consecutive year of dividend growth. The Group remains committed to ensuring sustainable dividend growth. Since 2004, Bunzl has returned £2.0 billion to shareholders through dividends and has committed £4.7 billion in acquisitions to support a growth strategy that has delivered an adjusted earnings per share CAGR of 10% over the period.
Other Financial Highlights:
- Very strong performance with revenue growth of 9.8% at constant exchange rates, driven by product cost inflation, volume recovery in the first half and growth from acquisitions
- Adjusted operating profit increase of 11.1% at constant exchange rates, with slightly higher operating margin year-on-year; reported operating profit up 12.6%
- Adjusted earnings per share up 7.0% at constant exchange rates; reported basic earnings per share up 6.8%
- Strong free cash flow generation; cash conversion of 107% supported by working capital improvement
- 12 acquisitions agreed over 2022, with a total committed spend of £322 million; two additional acquisitions announced today
- Net debt to EBITDA of 1.2 times provides substantial headroom for further acquisitions; robust return on invested capital of 15.0%
