Bunzl: stock up on interim results and two acquisitions
(CercleFinance.com) - The Bunzl share is up around 3.
5% in London on Monday morning, after the distribution and outsourcing group published H1 2020 adjusted pre-tax profit that is up 16.1% at 306.8 million pounds.
At nearly 4.85 billion pounds, its revenue rose 7% (+6.7% excluding FX factors), while its operating margin improved by 30 basis points to 7%, reflecting resilience to the challenges posed by the Covid-19 pandemic.
While it expects difficult business conditions in the second half of the year, the British company announced the reinstatement of its final 2019 dividend of 35.8 pence per share, in addition to a 2020 interim dividend that is up 1.9% at 15.8 pence per share.
Alongside the publication of its H1 results, Bunzl has announced agreements to acquire MCR Safety, a US personal protective equipment company (2019 sales of 248 million dollars). It will also acquire Abco Kovex, a distributor of flexible packaging in Ireland (2019 sales of 23 million euros).
Copyright (c) 2020 CercleFinance.com. All rights reserved.
5% in London on Monday morning, after the distribution and outsourcing group published H1 2020 adjusted pre-tax profit that is up 16.1% at 306.8 million pounds.
At nearly 4.85 billion pounds, its revenue rose 7% (+6.7% excluding FX factors), while its operating margin improved by 30 basis points to 7%, reflecting resilience to the challenges posed by the Covid-19 pandemic.
While it expects difficult business conditions in the second half of the year, the British company announced the reinstatement of its final 2019 dividend of 35.8 pence per share, in addition to a 2020 interim dividend that is up 1.9% at 15.8 pence per share.
Alongside the publication of its H1 results, Bunzl has announced agreements to acquire MCR Safety, a US personal protective equipment company (2019 sales of 248 million dollars). It will also acquire Abco Kovex, a distributor of flexible packaging in Ireland (2019 sales of 23 million euros).
Copyright (c) 2020 CercleFinance.com. All rights reserved.