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1 March 2021 | 07:21am
StockMarketWire.com - Distribution and services group Bunzl reported a rise in profit on an uptick in profit and margin amid increased sales of higher priced Covid-19 related products.
For the year ended 31 December 2020, pre-tax profit rose 22.6% to £555.7 million year-on-year as revenue increased 8.4% to £10.11 billion.
Revenue growth was driven by a strong increase in demand for Covid-19 related products offset by a decline in other product sales, particularly in the retail and foodservice sectors.
Operating margin rose to 6.8% from 6.3%, principally due to mix benefits from Covid-19 related products, the company said.
Overall in 2021 we expect robust revenue growth over the prior year at constant exchange rates, after excluding larger Covid-19 related orders which we do not expect to repeat, the company said. ....

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