Bunzl plc (BNZL.L, BZLFY.PK) announced that its first-quarter Group revenue, at constant exchange rates, has increased 10 percent compared to the same period last year due to underlying revenue growth of about 2%, with all of the business areas showing growth, and the positive impact from acquisitions. The company said its revenue and operating margins have been consistent with expectations at the time of the annual results announcement in February.
Bunzl also announced its acquisition of Michael Davies and Associates Limited. Trading as MDA, the business is based in Blackburn in the UK and is engaged in the procurement and fulfilment of promotional products and marketing point of sale materials for a variety of customers, principally in the food and drinks industries.
Bunzl said there has been no significant change in its financial position during the first quarter, and the Group continues to have substantial funding headroom available.
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