Bunzl Plc Q1 Revenue Rises; FY22 Guidance Remains Unchanged - Quick Facts

Specialist Distribution and outsourcing Group Bunzl plc (BZLFY.PK,BNZL.L) reported Wednesday that its Group revenue in the first quarter went up 13.2 percent at actual exchange rates and 12.5 percent at constant exchange rates.

At constant exchange rates, underlying revenue growth, which is organic growth adjusted for trading days, was 11.0 percent, mainly driven by inflation.

Underlying revenue growth benefited from continued momentum in the base business which contributed 17 percent growth.

The growth was partially offset by the expected decline in sales from the top 8 Covid-19 related products which impacted underlying revenue by 6 percent, driven by product deflation.

Looking ahead, the company said the guidance remains unchanged. At constant exchange rates, moderate revenue growth is expected in 2022, driven by the impact of acquisitions completed in the last 12 months and supported by a slight increase in organic revenue.

The company also expects Group operating margin in 2022 to be slightly higher than historical levels.

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