London-based distribution group reports 10% revenue increase for first quarter

An international distribution and outsourcing company has announced that revenues have increased since the beginning of the year.

Bunzl, which is headquartered in London, reported that its revenues in the first quarter of 2021 rose by 10.4 per cent (at constant exchange rates).

The company said that acquisitions contributed revenue growth of 4.3 per cent, with the remaining 4.7 per cent being attributable to a greater number of trading days than in 2020.

It also noted that sales of its top eight Covid-19 related products contributed 6.4 per cent of growth, offsetting a 5 per cent decline from other products.

Frank van Zanten, CEO of Bunzl, said: “Now over a year on from the start of the pandemic I continue to thank our colleagues for their exceptional hard work supporting front line heroes and essential businesses through these extraordinary times.

“As activity starts to resume in some of our markets, it is with pride that I now see our teams increasingly supporting customers to reopen their businesses, many of which have been meaningfully impacted over the course of the pandemic.

“The resilience of the Bunzl model continues to be demonstrated by our ability to respond to changing customer needs and through our financial performance.

“Looking ahead we are confident in the strength of our consistent and proven compounding strategy, supported by enhanced hygiene trends, our differentiated offering of sustainable and responsible solutions and acquisition momentum.

“We have announced three acquisitions in the year to date with the pipeline remaining active and a number of discussions ongoing.”

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