Bunzl plc, a specialist international distribution and services group, says 2021 revenues were 7.1% higher than in 2020 at constant exchange rates.
The company said recovery in the base business and acquisitions was “more than offsetting expected declines in Covid-19 related sales,” while revenue at constant exchange rates was 17.1% higher than in 2019.
Adjusted operating profit in 2021 grew by 2.8%, and adjusted earnings per share grew by 4.9%, the company said.
“I am proud of the Group’s performance during 2021 and how Bunzl continues to demonstrate the strength of its business model and strategy and also the entrepreneurial spirit of our people who have met the challenges of the pandemic and driven the business forward,” said Bunzl CEO Frank van Zanten. “Our adjusted operating profits in 2021 were 23% higher than in 2019, at constant exchange rates, driven by both underlying revenue growthⱡ and acquisition revenue growth, with almost £1 billion of committed acquisition spend over this two year period. Those sectors most impacted by the pandemic, such as retail and foodservice, are recovering strongly, supported by inflation, and Bunzl continues to benefit from enhanced hygiene trends. I am pleased that we have made good strategic progress despite pandemic-related challenges, particularly with the acceleration of our sustainability ambitions. In 2021 we joined the UN’s race to zero and continued to help our customers transition products to more sustainable materials supported by our expert advice, data and innovation. Bunzl has further strengthened its value-added proposition through the pandemic and we look to the future with confidence given our consistent compounding growth strategy.”