Bunzl plc (BZLFY.PK,BNZL.L) said it expects to deliver another set of good annual results, with adjusted operating profit expected to be slightly ahead of prior guidance. Group revenue in 2023 is projected to be broadly in line with 2022, at constant exchange rates and excluding the impact of the disposal of UK healthcare business. Within this, revenue growth from acquisitions is expected to be offset by the expected underlying revenue decline, reflective of lower Covid-19 related sales, the Group noted. Inclusive of the disposal of UK healthcare business, total Group revenue in 2023 is projected to be 1 to 2% lower than in 2022, at constant exchange rates, and with currency over the year expected to have minimal impact. Bunzl plc expects Group adjusted operating profit to deliver moderate growth, with operating margin expected to be slightly ahead of the previous record level.

The Group expects some revenue growth in 2024, at constant exchange rates, driven by announced acquisitions and slightly positive organic growth. Group operating margin is anticipated to be broadly in-line with 2023, and to remain substantially higher compared to pre-pandemic levels.

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Original: RTT – Earnings: Bunzl Plc On Track To Deliver Moderate Adjusted Operating Profit Growth In FY23