Bunzl lifts FY adjusted operating profit forecast as H1 profits rise

(Sharecast News) - Distribution specialist Bunzl on Tuesday upgraded guidance for annual adjusted operating profits as it reported a rise in half-year earnings. The company reported interim pre-tax profit of £317m, up 6.9%, with revenue up 4.5% to £5.9bn.

"We now expect adjusted operating profit to be moderately higher than in 2022 at constant exchange rates, with operating margin remaining strong and moderately higher than that achieved in the prior year."

Bunzl also announced it had signed an agreement to buy a business in Poland, and one in the Netherlands for an undisclosed sum.

Reporting by Frank Prenesti for Sharecast.com