Bunzl chief executive eyes more acquisitions as its revenues climb

 
Suzie Neuwirth
DISTRIBUTION firm Bunzl yesterday unveiled solid first-half results and two new acquisitions, and hinted more potential deals are on the horizon.

The FTSE 100-listed group reported a 13 per cent increase in revenue to £2.96bn and a 12 per cent rise in pre-tax profits to £167.7m. It increased its dividend by 14 per cent to 10p.

The group, which distributes consumable products to businesses, has agreed to buy Mexican safety products supplier Espomega and British procurement firm TFS.

“We have made six acquisitions this year to date and we hope to complete more,” chief executive Michael Roney told City A.M. “We are currently in talks with several potential takeover targets.” Shares closed 1.6 per cent higher at £13.76.