Confirms FY guidance (Il Sole 24 Ore Radiocor) - London, 24 Apr - Bunzl, the UK distribution and services group, said that revenue in the first quarter declined by 2.4% at constant exchange rates, with underlying revenue, which is organic revenue adjusted for trading days, declining 5.4% "as expected." Acquisitions contributed growth of 2.9% at constant exchange rates. Overall, at actual exchange rates, revenue declined 5.9%.

"Operating margin over the quarter was strong, supporting our outlook for the year," the company said.

Bunzl maintained its full year guidance unchanged.

The group continues to expect to deliver slight revenue growth in 2024, at constant exchange rates, driven by acquisitions already completed in 2023 and 2024; with underlying revenue declining slightly.

Operating margin is expected to be slightly below the record level reported for 2023, it said.

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(RADIOCOR) 24-04-24 08:56:16 (0196) 5 NNNN