Bunzl update puts off investors

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Bunzl update puts off investors

The price of shares in FTSE 100 distribution and services group Bunzl (LON:BNZL) dropped by 6.26% to 2,321p (as of 11:40 GMT) after the company posted a pre-close statement for the year ending 31st December. Management said that revenues grew by roughly 8% this year, but warned that visibility on future orders remained limited due to the ongoing uncertainty surrounding the pandemic.

CEO Frank van Zanten commented: “The Group’s performance during the pandemic has demonstrated the resilience of the Bunzl portfolio, the strength of our supply chain and the agility of our decentralised operating model. Growth through acquisitions continues to be an important part of our strategy and the new acquisitions demonstrate our continued success in attracting high quality businesses to join Bunzl. This year has been one of the most acquisitive in our history, with more than £410 million of committed spend. The acquisition pipeline remains active with a number of discussions ongoing“.

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