Plus   Neg

Bunzl FY20 Profit Climbs, Lifts Dividend; Sees Good Growth In FY21 - Quick Facts

Distribution and outsourcing Group Bunzl plc (BZLFY.PK,BNZL.L) reported Monday that its fiscal 2020 profit before income tax climbed 22.6 percent to 555.7 million pounds from 453.3 million pounds a year ago. Basic earnings per share were 128.8 pence, up from 104.8 pence a year ago.

Adjusted profit before income tax was 715.6 million pounds, compared to 578.2 million pounds last year. Adjusted earnings per share were 164.9 pence, compared to 132.2 pence last year.

Adjusted operating profit grew 19.1 percent to 778.4 million pounds from 653.3 million pounds last year.

Revenue for the increased 8.4 percent to 10.11 billion pounds from 9.33 billion pounds last year. On a constant currency basis, revenues increased 9.4 percent.

Further, the Board is recommending a final dividend of 38.3 pence, 7 percent higher than the prior year, resulting in a full year dividend of 54.1p. This represents a 5.5 percent increase compared to the 2019 total dividend.

Looking ahead, Frank van Zanten, Chief Executive Officer of Bunzl, said, "Overall in 2021 we expect robust revenue growth over the prior year at constant exchange rates, after excluding larger Covid-19 related orders which we do not expect to repeat. We anticipate that the recovery in sales of other products, as restrictions ease, will broadly offset the decline of smaller Covid-19 related orders, with recent acquisitions making an increasing contribution to the Group's performance."

Separately, Bunzl announces that it has recently completed three further acquisitions. In January, the company acquired Deliver Net, a healthcare distributor to care home groups in the UK, with 2020 revenue of 20 million pounds.

In February, the company completed the acquisition of Disposable Discounter, an online distributor of foodservice disposable products to a highly fragmented customer base. Bunzl also completed the acquisition of Pinnacle, a leading distributor of cleaning & hygiene in Saskatchewan, Canada, in February.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Intel Corp's Mobileye and self-driving delivery startup Udelv have signed a deal to launch a fully driverless delivery service in the United States by 2023. The companies plan to produce more than 35,000 Mobileye-driven Transporters by 2028. Domino's Pizza and autonomous vehicle startup Nuro are launching autonomous pizza delivery in Houston, this week. Some Domino's customers in Houston can have a pizza delivered by Nuro's R2 robot. CVS Health is now offering cost COVID-19 vaccines at select CVS Pharmacy locations in four more U.S. states as part of its ongoing effort to expand access to COVID-19 vaccines. It has now expanded the program to 51 more select locations in Arkansas, Nebraska, Iowa and Maine. It began in Washington, West Virginia, Delaware and New Mexico at 15 select locations from March 31.
Follow RTT