LONDON (dpa-AFX) - British distributor of non-food products, Bunzl Plc (BZLFY.PK, BNZL.L), on Monday reported lower profit in fiscal 2024, mainly affected by loss related to the disposal of Argentina business and slightly lower revenues. The company also declared a final dividend, higher than the previous year.
The company posted statutory pre-tax profit of 673.6 million pounds, down 3.6 percent from last year's 698.6 million pounds.
Profit for the year declined to 501.0 million pounds or 148.7 pence per share from 526.2 million pounds or 156.0 pence per share a year ago.
On an adjusted basis, pre-tax profit was 872.9 million pounds, compared to 853.7 million pounds a year ago.
Adjusted earnings per share were 194.3 pence for the year, compared to 191.1 pence last year.
Annual revenues came in at 11.78 billion pounds, down from 11.80 billion pounds recorded in the prior year.
Further, the company's Board has recommended a final dividend of 53.8 pence, up 7.4 percent than last year. This results in a full year dividend of 73.9 pence, an 8.2 percent growth in the total dividend from the 68.3 pence distributed in fiscal 2023.
Looking ahead, Bunzl maintained its 2025 outlook for robust revenue growth, at constant exchange rates, boosted by announced acquisitions and slight underlying revenue growth.
For the year, the company continues to expect group operating margin to be in-line with last year and to be higher than pre-pandemic levels.
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