International distribution and outsourcing group Bunzl has revealed that revenue in the UK and Ireland is down year-on-year, although margins have “increased significantly on 2009”.
A pre-close statement from the organisation, published today, said that difficult economic conditions have impacted performance in the UK and Ireland, although overall trading is “consistent with expectations” reported in October.
Group revenue growth for the 12 months is expected to be between three and four per cent, with North America - the company’s largest business area - performing particularly well.
Bunzl’s statement said: “Acquisitions continue to be a key component of the group’s growth strategy.
“The nine acquisitions which have been announced to date in 2010 have annualised revenue of approximately £150 million and are integrating well.
“The current environment remains promising and discussions are ongoing with a number of interested parties.”
Acquisitions in the year so far include that of Clean Care, Weita, Silco and Juba, which have increased Bunzl’s presence considerably in Denmark, Switzerland, Israel and Spain respectively.