Bunzl plc Provides Earnings Guidance for the year ending 31 December 2020
December 16, 2020 at 02:00 am EST
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Bunzl plc provided earnings guidance for the year ending 31 December 2020. For the period, the company expects group revenue for the year is expected to increase by approximately 8% at actual exchange rates and by approximately 9% at constant exchange rates. At constant exchange rates the Group expects revenue in 2021 to be lower than the current year with minimal benefit from larger Covid-19 related orders which have strongly supported the performance in 2020. The Group expects an underlying recovery in sales of other products to be broadly offset by a decline in smaller Covid-19 related orders, with acquisitions made during 2020 making a contribution to the Group's performance in 2021. Group operating margins are expected to return to more historical levels.
Bunzl plc specializes in the distribution of hygiene and safety packages, products, and materials. The group also offers packaging products, restaurant items (cutlery, glassware, kitchen utensils, etc.), cleaning products (soaps, detergents, toilet paper, custodial products, polishes, washing machines, etc.), and personal protection equipment (gloves, masks, clothing, etc.).
Net sales break down by sector into food services (29.8%), grocery stores (26.1%), safety (14.8%), retail (9.6%), hygiene and cleaning (9.3%), healthcare (7%), and other (3.4%).
Net sales are distributed geographically as follows: the United Kingdom and Ireland (12%), Continental Europe (18%), North America (61.2%) and other (8.8%).
BUNZL PLC 
