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Bunzl’s acquisition spree pays off in revenue boost

Bunzl’s acquisition spree pays off in revenue boost
Tuesday 26 October 2021 7:58 am Distribution and services group Bunzl has enjoyed 13 per cent revenue jump in its third quarter, which was boosted by its acquisition spree. After its 11th acquisition year, the fresh buyouts of agricultural supplies distributer Intergro and McCue Corporation have contributed 4.3 per cent to its revenue at constant…

Distribution and services group Bunzl has enjoyed 13 per cent revenue jump in its third quarter, which was boosted by its acquisition spree.

After its 11th acquisition year, the fresh buyouts of agricultural supplies distributer Intergro and McCue Corporation have contributed 4.3 per cent to its revenue at constant exchange rates.

Bunzl boss, Frank van Zanten said: “At our recent Capital Markets Day, as well as providing insights into the opportunity that sustainability presents to Bunzl, we highlighted the strength of our compounding strategy which has delivered strong shareholder returns for many years.

“This track record of success continues with another good trading performance in Q3 and the acquisition of Intergro.”

The group completed the Intergro deal at the end of September and wrapped up its deal with McCue this month following competition clearance.

Distribution and services group Bunzl has enjoyed 13 per cent revenue jump in its third quarter, which was boosted by its acquisition spree.

After its 11th acquisition year, the fresh buyouts of agricultural supplies distributer Intergro and McCue Corporation have contributed 4.3 per cent to its revenue at constant exchange rates.

Shares inched 0.27 per cent higher to 2,593p per share by mid-afternoon.

Bunzl boss Frank van Zanten said: “At our recent Capital Markets Day, as well as providing insights into the opportunity that sustainability presents to Bunzl, we highlighted the strength of our compounding strategy which has delivered strong shareholder returns for many years.

“This track record of success continues with another good trading performance in Q3 and the acquisition of Intergro.”

The group completed the Intergro deal at the end of September and wrapped up its deal with McCue this month following competition clearance.

The London-listed firm has been knocked by a string of supply chain hang-ups over the course of the pandemic, but has emerged a steady ship.

In the face of the disruptions, the group’s total revenue hit £4.86bn in the six months to 30 June, climbing just past last year’s $4.84bn. Operating profit also lifted 8.8 per cent to £304.1m, up from £279.4m in the first half of last year.

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