Annual results for year ended 31 December 2010
Annual results for year ended 31 December 2010
28 Feb 2011
Bunzl plc, the international distribution and outsourcing Group, today publishes its annual results for the year ended 31 December 2010.
| 2010 | 2009 | Growth as reported |
Growth at constant exchange |
|
|---|---|---|---|---|
| Revenue | £4,829.6m | £4,648.7m | 4% | 3% |
| Operating profit* | £306.7m | £295.7m | 4% | 3% |
| Profit before tax* | £276.2m | £257.8m | 7% | 6% |
| Adjusted earnings per share* | 60.6p | 55.9p | 8% | 7% |
| Dividend for the year | 23.35p | 21.55p | 8% | |
| Operating profit | £255.7m | £253.9m | 1% | |
| Profit before tax | £225.2m | £216.0m | 4% | |
| Basic earnings per share | 49.1p | 46.4p | 6% |
Other highlights include:
- Improved underlying revenue growth in 2010
- Acquisition spend of £126 million with nine acquisitions announced adding annualised revenue of £154 million
- Significant expansion in Switzerland and entry into Israel
- Continued strong cash flow with operating cash flow to operating profit* of 93%
- Strong track record of dividend growth continues with 8% increase
* Before intangible amortisation and acquisition related costs
Commenting on today’s results, Michael Roney, Chief Executive of Bunzl, said:
“Despite continuing challenging economic conditions across our international markets, the Group has once again delivered another good set of results. Our organic growth, as we continued to gain additional business with existing customers combined with new customer wins, was bolstered by acquisition activity with nine acquisitions announced during the year.
Looking ahead, we believe that the opportunity for future development both organically and through acquisitions, combined with our market leading positions and our strong cash flow and balance sheet, should enable the Group to achieve further growth.”
