Bunzl plc reported sales for 2009 were £4.65 billion, an increase of 11% over 2008. Sales were flat at a constant exchange rate. Profit improved 5% to £148.9 million.
With its annual sales report, Bunzl also announced it has acquired Danish distributor Hamo A/S, a supplier of catering disposables and light catering equipment.
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\”The Group has delivered robust results against the backdrop of challenging macro-economic conditions across its international markets,\” said Michael Roney, Chief Executive. \”Looking ahead, while the economic conditions are expected to remain challenging, we believe that Bunzl should continue to show resilience and to develop well, helped by our leading market positions, an improving environment for acquisitions and our strong cash flow and balance sheet.\”
In North America, revenue and operating profit rose 19% and 16% respectively, principally due to a stronger U.S. dollar with some positive organic growth. Sales in the U.K. and Ireland fell 3%, with profit declined 26%.
Continental Europe revenue rose 11%, primarily a result of a stronger euro and positive impact from acquisitions made in 2008. Operating profit in Continental Europe increased 22%.
In the Rest of the World, revenue rose 8% due to the positive impact of currency translation and prior year acquisitions while operating profit declined 3% largely due to challenging economic conditions and the transactional impact in the first half from the weaker Australian dollar.
