Bunzl

For H1 2026 Bunzl reported revenue of £5.93bn (+3%) and adjusted operating profit of £440.6m (+8.9%), which lifted the operating margin to 7.3%. Adjusted earnings per share climbed 11.4% to 87.7 pence and management raised the full-year guidance. At the same time Bunzl announced a £500m buyback program; the first tranche of up to £250m starts immediately and is expected to be completed by 22 December 2026, after which the share hit a 52-week high. » Więcej na de.investing.com

Bunzl shares fell 1.7% to 2,748 pence after Bank of America resumed coverage with an "Underperform" rating and a price target of 2,206 pence. Analysts criticised an around 30% rally year-to-date and pointed to cumulative M&A-related charges of about £1.9bn since 2013, which they say have artificially lifted adjusted earnings per share by an estimated 28% and distorted the return on invested capital by 260 basis points. The stock’s proximity to its 52-week high and domestic political uncertainty likely prompted additional profit-taking and weighed on the share price. » Więcej na de.investing.com

At the annual general meeting Bunzl confirmed a dividend of £0.74 per share for the 2025 financial year, with a total payout of £242.20m. The dividend was unchanged, lifting the yield to 3.57% (previous year 2.24%); the shares are trading ex-dividend. FactSet estimates an increase to £0.76 for 2026, which would push the dividend yield down to around 3.17%; the five-year price performance is -1.67%, while total return (price plus dividends) is +48.13%. » Więcej na finanzen.net

Bunzl posted 2% organic revenue growth in the first quarter, driven by volume growth, positive comparator effects and tariff-related price increases. Reported revenue fell 0.4% on a currency-adjusted basis due to fewer trading days, negative translation effects of 1.9% and a 0.6% contribution from acquisitions; North America was slightly above the group average. The company confirmed its full-year guidance, expecting moderate revenue growth at constant exchange rates, a reported adjusted operating margin just below 7.6%, net finance costs of around £125 million and a tax rate of about 26%. » Więcej na de.investing.com

Bunzl reported 3.0% sales growth for fiscal 2025 to £11.85bn on a constant currency basis, with organic growth of just 0.1%. Adjusted operating profit fell 4.3% to £910.3m and adjusted earnings per share dropped 5.2% to 179.3p, weighed down mainly by execution issues in North America and weaker end markets. The company still generated free cash flow of £579m and raised the dividend by 0.3%, extending a 33-year streak of increases. Bunzl said it saw a recovery in the second half, completed eight acquisitions and expects moderate adjusted sales growth for 2026 with a slightly lower operating margin. » Więcej na de.investing.com