Source: Sharecast
Updating on trading, the packing and business supplies giant said group revenue grew by around 4% on a constant currency basis in the six months to 30 June, supported by a robust performance in North America, its biggest market. On an underlying basis, revenues grew by 3%.
Bunzl said it was seeing "encouraging" volume growth, much of which driven by North America, while acquisitions contributed growth of 1% net of disposals during the first half.
Interim adjusted operating profit growth was "good", it said, although it did not provide any figures.
As a result, the group said: "While we remain mindful of continuing macroeconomic and geopolitical uncertainties, we are encouraged by our performance and upgrade our 2026 guidance." It now expects annual revenue growth to be driven by "modest" underlying revenue improvements, supported by some inflation and a "small benefit" from acquisitions.
When it posted full-year numbers in March, Bunzl forecast moderate revenue growth driven by "some" underlying revenue growth and a small benefit from acquisitions.
The operating margin guidance was unchanged, however, for a slight decline year-on-year.
Frank van Zanten, chief executive, said: "Bunzl is expecting to deliver an improved performance in the first half, with continued underlying growth and robust profitability, demonstrating the resilience and agility of our business model.
"Furthermore, I am pleased that our North American distribution business has achieved the good operational progress we had expected, with the business’ responsiveness, agility and high service levels largely restored.
"We continue to expect 2026 to be a foundation for future profit growth."
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