Bunzl in talks with ‘a number of acquisition targets’

Bunzl the outsourcing and distribution giant are in talks with “a number of acquisition targets” as they are looking to grow for the rest of 2019.

The FTSE 100 company reported in the six months to 30 June, a 1.6% rise in pre-tax profits to £220.5m.

Revenues for the period rose 4.3% to £4.5bn, however, growth was only 1.2% at constant exchange rates and benefited with a weak pound.

Frank van Zanten, chief executive hailed Bunzl’s performance considering the “background of slowing macroeconomic and market conditions” across parts of the firm’s regions and sectors.

He said, “Despite continuing economic uncertainties, the board believes that the combination of our strong competitive position, diversified and resilient businesses and ability to consolidate our fragmented markets will lead to further progress.

“Looking forward, the group’s expectations for 2019 remain unchanged.”