LONDON (dpa-AFX) - Bunzl Plc (BZLFY.PK, BNZL.L), a British distribution and services company, Thursdsay reported that Group revenue in the third quarter climbed 18.8 percent at actual exchange rates and 8.7 percent at constant exchange rates.
In its trading statement for the period since June 30, the company noted that underlying revenue growth, which is organic growth adjusted for trading days, was 6.1 percent, with one fewer trading day than the comparable period negatively impacting revenue by 1.3 percent. Acquisitions contributed further growth of 3.9 percent at constant exchange rates.
Underlying revenue growth was driven by the base business, which contributed 10.4 percent growth, benefitting from inflation as expected. The company recorded expected decline in sales of the top Covid-19 related products, which impacted underlying revenue by 4.3 percent.
Looking ahead, the company said its guidance remains unchanged at constant exchange rates, despite a slowing macroeconomic environment.
Bunzl continues to expect very good revenue growth in 2022, driven by good organic revenue growth and the positive contribution of acquisitions announced in the last 12 months. Group operating margin is still expected to be higher than historical levels and only slightly lower than that achieved in 2021.
Frank van Zanten, Chief Executive Officer of Bunzl, said, 'Our strong performance over the quarter continues to demonstrate the strength and resilience of the Bunzl business model, underpinned by our value-added offering for customers.'
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