08/24/2020 | Press release | Distributed by Public on 08/24/2020 00:07
Bunzl plc, the specialist international distribution and services Group, today publishes its half yearly financial report for the six months ended 30 June 2020.
at constant exchange
|Adjusted operating profit*||£340.8m||£302.7m||12.6%||13.0%|
|Adjusted profit before income tax*||£306.8m||£264.2m||16.1%||16.6%|
|Adjusted earnings per share*||70.1p||60.4p||16.1%||16.4%|
|Additional 2019 interim dividend||35.8p|
|Profit before income tax||£245.4m||£200.5m||22.4%|
|Basic earnings per share||55.6p||46.5p||19.6%|
Commenting on today's results, Frank van Zanten, Chief Executive Officer of Bunzl, said:
'Despite the unprecedented challenges experienced as a result of the Covid-19 pandemic during the first half of the year, these results have once again demonstrated the strength of our customer proposition and supply chain and the resilience of our business model and consistent and proven strategy. Throughout this period, a key priority has been the continued safety and wellbeing of people connected with our business including Bunzl colleagues, customers and suppliers. I have been greatly impressed by our tireless, dedicated and hardworking colleagues around the world as they have had to adapt their usual working practices to respond to the unprecedented demands placed on our business.
Looking forward, although there remains considerable uncertainty, we expect to face challenging trading conditions during the second half of the year. However the fundamental aspects of our business model remain attractive with the Group's strong cash generation allowing us to maintain Bunzl's long track record of dividend growth and continue our compounding strategy of consolidating the Group's fragmented markets through focused acquisitions.'
* Alternative performance measure (see Note 2).
|Frank van Zanten, Chief Executive Officer||David Allchurch|
Richard Howes, Chief Financial Officer
|Tel: +44 (0)20 7725 5000||Tel: +44 (0)20 7353 4200|
A live webcast of today's presentation to analysts will be available on the Company's website at www.bunzl.com commencing at 9.30 am.