LONDON (dpa-AFX) - Bunzl plc issued an update prior to entering its closed period for the six months ending 30 June 2025. Group revenue over the period is expected to be approximately 4% higher than the prior year, at constant exchange rates, and up to 1% higher at actual exchange rates. Group revenue growth at constant exchange rates is projected to be driven by acquisitions, net of disposals, and with broadly flat underlying revenue over the period. The Group expects operating margin over the period to be in-line with previously published guidance at around 7.0%, with the expected adjusted operating profit decline also in-line with expectations.
The Group expects moderate revenue growth in 2025, at constant exchange rates. Group operating margin for the year is expected to be moderately below 8.0%, compared to 8.3% in 2024.
Frank van Zanten, CEO of Bunzl, said: 'Alongside a macroeconomic backdrop that remains uncertain, the Group is trading in-line with our expectations. Actions are underway to improve performance in the Group, particularly in our largest business in North America and in Continental Europe, and we anticipate improvement in the second half of the year.'
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