The Bunzl Board is proposing a 2025 interim dividend of 20.2p, an increase of 0.1p on the amount paid in relation to the 2024 interim dividend.
Other financial highlights include:
Revenue increased by 4.2% at constant exchange rates; with underlying revenue broadly stable over the period in a challenging operating environment
Operating margin declined from 8.0% to 7.0%, driven by specific large businesses in North America and Continental Europe; adjusted operating profit declined 7.6% at constant exchange rates; reported operating profit declined 14.0%
Good progress being made with actions taken to improve operational performance in North America and Continental Europe. 2025 outlook reiterated; expect these actions to drive an improved performance in the second half and support a moderated year-on-year operating margin decline compared to the first half
Five acquisitions announced August year to date, including Quindesur and Guantes Internacionales, S.A. de C.V. ("Gisa") announced today, with c.£120 million committed spend; pipeline remains active
Adjusted net debt to EBITDA of 1.9x; leverage expected to be toward the lower end of their target range of 2.0 to 2.5 times at the end of the year, after potential acquisition spend and a completed 2025 share buyback programme
