Distribution and outsourcing firm Bunzl said this year's string of acquisitions will help it report annual revenue growth of over 6%.
The group, whose products include supermarket bags and hospital gowns, said overall trading for the year ending 31 December 2011 has been consistent with expectations given at its interim statement in October.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Bunzl said there has also been an improvement in the group's operating margin.
The group, which spent £185m on ten acquisitions this year, said company takeovers remain "an important part of the group's growth strategy."
Bunzl said overall the operating profit margin of the acquired companies is higher than the group average.
"They are integrating well and the current environment for acquisitions remains positive with a promising pipeline," the group said.
Bunzl said its strong cash flow and balance sheet should continue to enable it take further consolidation opportunities.
--
cj
-
Gilt yield surge puts Rachel Reeves under renewed pressureRising gilt yields mean government borrowing costs are reaching precarious levels
-
5 alternatives to Reeves’ inheritance tax raid on rural Britain as families face ‘splitting up or selling’ farmsInheritance tax limits are now so low they attack small working family farms rather than just going after tax loopholes, one Cotswolds farmer has said
