Bunzl, the international distribution and outsourcing group, saw its North America and Rest of the World divisions lead the way in the first half of the year.
Headline profit before tax in the six months ended June 30th rose 9%, or 10% at constant exchange rates, to £151.7m from £138.8m the year before. Reported profit before tax rose 8% to £121.2m from £112.1m a year earlier.
Revenue rose 7% to £2,612.2m from £2,442.0m the year before, with organic growth of 4%.
Subscribe to 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
Adjusted earnings per share (EPS) jumped 9% to 33.7p from 31.0p in the first half of 2011, while statutory EPS improved 6% to 26.5p from 24.9p.
The interim dividend has been hiked by 9% to 8.80p from 8.05p.
"Looking forward, we believe that Bunzl's strong competitive position and resilient customer sectors, together with opportunities to consolidate further our markets as we expect to complete more acquisitions later this year, should enable the group to show continued good growth and development," said Michael Roney, Chief Executive of Bunzl.
JH
-
Lloyds axes foreign currency fees for Club Lloyds customersClub Lloyds customers will be able to withdraw their money abroad without incurring any extra fees
-
How to invest during stagflationTrump’s tariffs look poised to push the global economy into a period of stagflation. We look at how to ensure your investments can survive a global slowdown.
