* Q3 rev up 5 pct and 6 pct in year to date
* Trading in line with firm's expectations
* Buys Indigo Concept Packaging Ltd, eyes more acquisitions
LONDON Oct 19 British distributor Bunzl
posted a 5 percent rise in third quarter revenue and said it
would continue its strategy of acquisitive-led growth with more
buys this year.
Bunzl, which supplies supermarkets, hospitals and hotels
with products ranging from carrier bags to toilet rolls, said
trading had been in line with its expectations, with group
revenue up 6 percent in the year to date.
Underlying revenue growth in its third quarter slowed from 4
percent in the first half to 2 percent, Bunzl said, a trend
particularly felt in the group's largest region of North
America, which it blamed on unfavourable exchange rates and
lower prices for its resin-based products.
Shares in FTSE 100 listed Bunzl were down 3.4 percent to
1046.5 pence at 0706 GMT.
Bunzl, which makes around two thirds of its growth through
small acquisitions, also said on Friday it had bought UK-based
packaging firm Indigo Concept Packaging Ltd.
The group has completed seven acquisitions this year with
annualised revenue of 163 million pounds and described its
pipeline as promising.
The group said acquisitions had helped deliver a strong rise
in revenue in Continental Europe despite a tough economic
environment, with an improved operating margin boosting profit
at its UK and Ireland business.