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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.

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