Bunzl PLC (LON:BNZL) expects revenue in the first half to rise 11%, boosted by acquisitions and additional grocery business won in North America.In a trading update, the distribution and outsourcing group said overall trading has been in line with expectations
The distribution and outsourcing group said overall trading has been in line with expectations.
READ: Bunzl delivers a 13% jump in full-year pre-tax profit boosted by recent acquisitions, weaker pound
Bunzl added that growth through acquisitions remains part of its strategy with total committed spend so far this year of £105mln.
The pipeline for acquisitions “remains active” with ongoing discussions expected to result in further transactions this year.
The company also announced that it has sold its marketing services business in the UK, which generates annual revenue of £46mln
“The business was considered to be non-core as the opportunities to expand overseas in the short to medium term were limited and the company therefore decided that it was an appropriate time to sell the business,” Bunzl said.