Plus   Neg

Bunzl Sees Constant Currency Revenue Growth In FY18; Buys Denmark's CM Supply

Distribution and outsourcing Group Bunzl plc (BZLFY.PK,BNZL.L) reported Thursday that its overall performance is consistent with expectations at the time of the third quarter trading statement in October.

In its trading update, the company said it expects Group revenue for the year ending December 31 to increase by between 8% and 9% at constant exchange rates due to organic growth of more than 4% and a similar impact from acquisitions, net of disposals.

Currency translation movements are expected to reduce the constant exchange revenue growth by between 3% and 4%.

Bunzl also announced that it has recently acquired CM Supply, a foodservice distributor based in Copenhagen, Denmark. The business is principally engaged in the supply of own brand and customised foodservice disposables and packaging to customers operating in the hotel, restaurant and catering sector and is forecast to achieve revenue in 2018 of 37 million Danish kroner or about 4 million pounds.

Finally, the Company confirmed that the proposed acquisition of Volk do Brasil, which was announced in October 2018, has been cleared by the Brazilian competition authority and is expected to be completed at the beginning of January 2019.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Starbucks Inc. has announced changes to its Starbucks Rewards loyalty program, noting that the revamp will provide its members with more flexibility and choice when they redeem stars at the company's stores. Starting on April 16, all members of the Starbucks Rewards loyalty program will be able to earn and redeem Stars for Rewards immediately after they join the program. Payment processing giant Visa Inc. is seeking a Technical Product Manager with expertise in cryptocurrency and blockchain for its cryptocurrency team. The company has listed a job opening on San Francisco-based recruiting software firm SmartRecruiters to find the manager for Visa Fintech. IBM announced the launch of IBM Blockchain World Wire, a real-time global payments network, aiming to support payments and foreign exchange in more than 50 countries. The network provides real time clearing and settlement using both stable coin backed by U.S. dollars and cryptocurrency.
Follow RTT