Bunzl plc released a "pre-close statement" today as an update to its expected financial report for the year ending
Dec. 31, 2009.
The distributor expects Group revenue to be up 11% from 2008 thanks to the positive impact of exchange.
At constant exchange rates, underlying revenue for the Group is 1% down from the prior year.
also reported by segment:
In North America, underlying revenue growth in the second half is slightly stronger
than the first half growth rate of 2% due to new customer wins and additional business with existing accounts.
Although underlying revenue in the UK and Ireland in the second half continues to be below the comparable period last
year due to the effect of the weak economy on the less resilient market sectors, operating margin has improved significantly
compared with the first half of the year.
In Continental Europe, underlying revenue in the
second half is broadly comparable to the same period last year with performance improved since the first half due to stronger
revenues in France aided by sales of cleaning and safety products related to H1N1 prevention.
revenue in the Rest of the World in the second half is below the same period in 2008 although the operating margin has improved
significantly compared to the first half of the year.