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Bunzl Grows 5% in Third Quarter

Bunzl plc, the international paper and packaging distribution and outsourcing group, reported sales for the third quarter are up 5 percent and up 6 percent year-to-date. Organic growth for the quarter was 2 percent, compared with the prior-year period.

In North America revenue growth was 5 percent with lower underlying growth of 2 percent, compared to the first half of 2012, due to a reduction in product input prices, especially for resin-based products, and the impact on the growth rate of a significant new customer which commenced trading with Bunzl in the third quarter of 2011.

In Continental Europe, although the economic environment throughout the region continues to be weak, the combination of slightly improved underlying revenue growth compared to the first half of 2012 and the impact of acquisitions have led to strong revenue growth albeit with a decline in the operating margin.

UK & Ireland showed increased profits as a result of an improved operating margin in spite of a sluggish economy and continued modest underlying revenue growth.

In Rest of the World the combination of underlying growth and the impact from acquisitions has led to substantial revenue growth albeit with some pressure on the operating margin.

Bunzl also announced the acquisition of Indigo Concept Packaging Limited, based in the UK. Revenue in the year ended Dec. 31, 2011, was £6 million.

Bunzl is planning more acquisitions this year.

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