Bunzl trading in line with FY expectations

LONDON (Reuters) - Distribution group Bunzl (BNZL.L) said on Tuesday its overall trading in the year-to-date had been in line with full-year expectations but the challenging economic environment had put pressure on margins.

Bunzl, which supplies supermarkets, hotels, hospitals, and offices with products ranging from carrier bags to toilet rolls, said group revenues had grown by about 17 percent since the start of 2009, but underlying revenues were marginally down.

The company said margins had come under pressure due to the reduction in underlying revenue and the impact of weaker sterling and the Australian dollar.

Market expectations for full-year underlying pretax profit range between 250 million pounds and 273 million pounds, with the consensus at 263 million, according to a Reuters Estimates poll of nine analysts.

(Reporting by Matt Scuffham)