Bunzl boosted by demand for masks and gloves

Business


Bunzl resumes dividends after being boosted by demand for masks and gloves in coronavirus crisis

Bunzl resumed dividends and reported first-half profit and revenue that surpassed analysts’ expectations as it was bolstered by robust demand for the protective masks and gloves it supplied in the coronavirus crisis. 

Known for making small acquisitions aimed at growing specific parts of its business over the years, the outsourcer also announced it had entered into deals to buy MCR Safety, a US-based personal protection equipment business, and Abco Kovex, a packaging distributor in Ireland. 

Looking up: Bunzl has reinstated its 2019 dividend of 35.8p per share as an additional interim dividend for 2019

The distribution company said adjusted pretax profit rose 16.6 per cent to £306.8m. Revenue grew 6.7 per cent to £4.85billion. 

Analysts had expected revenue of about £4.8billion and adjusted pretax profit of £296m. 

Bunzl also reinstated its 2019 dividend of 35.8p per share as an additional interim dividend for 2019. It declared an interim dividend for 2020 of 15.8p per share. 

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