Financial StabilityBunzl retains a strong balance sheet with forecast pre-IFRS 16 leverage of c.1.4x, providing significant headroom for M&A vs the target range of 2-2.5x.
Margin PerformanceBunzl is upgrading guidance for the year based on improved margin performance, driven by good margin management, including increased own brand penetration, and acquisitions.
Revenue GrowthThe group expects to deliver robust revenue growth, driven by acquisitions, with a small decline in underlying revenue.