Bunzl boosted as trading beats expectations

Shares in FTSE 100 distribution specialist Bunzl (LON:BNZL) climbed 8.17% to 2,038p (as of 11:20 BST) after it said that revenues for the six months ending 30th June rose by 6%. Overall operating margins also improved due to a shift in the product mix and as a result of the better than expected performance the company will repay employee-related government support packages.

CEO Frank van Zanten commented: “In these unprecedented times, I have continued to be immensely impressed by, and proud of, the dedication and resourcefulness shown by our employees throughout our business in responding to the challenging circumstances presented by the COVID-19 crisis. Everyone, from our delivery drivers and warehouse staff to the expert sales people and customer service specialists, has worked tirelessly to ensure that we have been able to meet the urgent needs of our customers and frontline healthcare workers and support them in the supply of critical products required to fight the impact of the virus.”

“Our ability to respond quickly and effectively to such demands has been underpinned by the strength of our supply chain and our reliable, added-value sourcing operation in Shanghai which together have given our customers the confidence to trust their business with us“.