Bunzl has announced a significant increase in pretax profit for the year, along with surpassing key consensus figures. The distribution-and-outsourcing group based in London confirmed that pretax profit reached 698.6 million pounds, a notable rise from the previous year’s GBP634.6 million.
Impressive Financial Results
Adjusted pretax profit stood at GBP853.7 million, exceeding both last year’s figure of GBP818 million and the consensus estimate of GBP799.9 million based on seven analysts’ forecasts. Additionally, adjusted operating profit increased to GBP944.2 million from GBP885.9 million, also surpassing the Visible Alpha consensus of GBP918.3 million.
Revenue Insights
While revenue decreased slightly to GBP11.80 billion from GBP12.04 billion, it was in line with the Visible Alpha revenue consensus of GBP11.84 billion. The company attributed this performance to a 2.5% growth from acquisitions offset by a 1.5% decrease from a disposal in 2022.
Dividend Announcement
Bunzl has proposed a final dividend of 50.1 pence per share, resulting in a total dividend of 68.3 pence for the year, marking an 8.9% increase from 2022.
Future Outlook
Looking ahead, Bunzl anticipates slight revenue growth in 2024, primarily driven by acquisitions. However, underlying revenue is expected to experience a slight decline. The company highlighted its active acquisition pipeline in existing markets as well as potential opportunities in new geographies and adjacent sectors.