Bunzl reports growth in profit and revenue as it brings business acquisitions total to 22
Outsourcer and distribution group Bunzl today reported profit and revenue growth as its acquisition spree spread further.
In 2015, the company’s adjusted operating profit was £366.5m, up from £341.8m in 2014. Its total revenue was £6.5bn, up from £6.2bn.
The London-based group also revealed it has spent £327m acquiring 22 businesses, including the today's takeover of Dental Sorria. This takes the company into Turkey and Austria, meaning it now has a presence in 29 countries.
The company said its acquisitions have added annualised revenue of £324m.
Read more: Bunzl reports growth in revenue and profit as it announces four more acquisitions
Bunzl’s chief executive, Michael Roney, said the group expects “to complete additional transactions as the year progresses”.
He said: "We believe Bunzl's strong competitive position, the impact of the significant acquisition spend in 2015 and the opportunities to consolidate our fragmented markets further will lead to continued growth in 2016.”
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The results today also showed earnings per share were up 10 per cent, from 64.5p to 71p. And the company said its dividend for the year would be raised 7 per cent, from 35.5p to 38p.