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In The News:

Bunzl Organic Sales Up 1% in Third Quarter

Non-food consumable products distributor Bunzl plc reported sales for the third quarter is up 6 percent from the same period a year ago, and up 3 percent year-to-date. Excluding the one-off positive impact from the sale of products from H1N1 prevention last year, growth in the third quarter was 1 percent, the same as in the first half of the year.

In the third quarter:

  • In North America the strong underlying revenue growth was at a similar level to the first half, although margin pressure has continued.
  • Revenue in the UK & Ireland has remained below 2009 due to the persisting difficult economic conditions, however margins have improved.
  • In Continental Europe revenue and operating profit in 2009 were positively impacted by the sale of H1N1 prevention products. After adjusting for this impact, both revenue and operating profit were ahead of the past year, due to the impact of acquisitions.
  • In the Rest of the World the combination of strong underlying revenue growth and margin improvement has led to excellent profit growth compared to the same period last year.

Bunzl also announced the acquisition of W. Van't Veer Verpakkingen B.V. in the Netherlands. The company is focused on the sale of cleaning and hygiene and catering disposable products to the healthcare sector. Revenue in the year ended Dec. 31, 2009, was €9 million.

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