LONDON (dpa-AFX) - Bunzl Plc (BZLFY.PK, BNZL.L), a British distribution and outsourcing company, on Thursday reported that its third-quarter Group revenue increased 2 percent on a reported basis and 5.4 percent at constant exchange rates.
In its trading statement for the period since June 30, the company said its underlying revenue, meanwhile, declined 1.2 percent, an expected improvement in trading compared to the prior quarter as underlying revenue trends continue to strengthen.
The company overall delivered modest volume growth year-on-year. Improved performance through the quarter in US foodservice redistribution business supported volume growth in North America.
Operating margin over the quarter was in line with expectations, supporting 2024 outlook.
Further, the company's fiscal 2024 guidance remains unchanged, continuing to expect to deliver robust revenue growth, at constant exchange rates, driven by acquisitions already completed in 2024.
The company continues to expect adjusted operating profit in 2024 to show a strong increase in comparison with 2023, at constant exchange rates, with Group operating margin expected to be moderately above the prior year level.
Frank van Zanten, Chief Executive Officer of Bunzl, said, 'Bunzl has delivered another period of good growth that demonstrates the ongoing strength of our compounding strategy and resilient business model.'
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