Bunzl PLC (LSE:BNZL) has said its guidance for the year remains unchanged despite the slowing macroeconomic climate and forecast “very good revenue growth”, driven by higher organic revenue and contributions from recent acquisitions.
Revenue in the third quarter increased by 18.8% at actual exchange rates and by 8.7% at constant exchange rates. Underlying revenue grew 6.1% at constant currencies in the third quarter, while acquisitions contributed further growth of 3.9%, the distribution company said in a trading update.
It expects group operating margin in 2022 to be higher than historical levels and only slightly lower than that achieved in 2021.
"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. Our commitment to reliably provide essential products and innovative solutions to our customers, our diversified portfolio, and our compounding growth strategy are all factors which contribute to our expectation of continued resilience," commented Bunzl CEO Frank van Zanten in the statement.
Bunzl shares fell 1.66% to 2,732.00p in early trade on Thursday.