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Here’s Why Bunzl Share Price Surged Today

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Nigel F

Shares of Bunzl PLC (LON: BNZL) gained 4% on Monday after the company reported strong first-half performance.

The acquisitive distribution group saw its revenue rising by 7% to £4.86 billion for the first half of the year to June 30. Moreover, pre-tax profits soared 22% to £245 million, while adjusted earnings jumped 16.6% to £306.8 million.

“The recent substantial declines in profitability in the lower margin foodservice and retail sectors were more than offset by strong performances in the generally higher-margin safety, cleaning & hygiene and healthcare sectors, primarily driven by significant sales volumes of Covid-19 related products including masks, sanitisers, gloves, disinfectants, coveralls, disposables wipes, face shields and eye protection,” Frank van Zanten, Bunzl’s chief executive, said in a statement.

Strong performance has pushed Bunzl towards restating its final dividend. The interim payment is also raised by 1.9% to 15.8p.

“We have also seen good growth in our grocery businesses,” he added.

Bunzl share price soared 4% to trade above the 2500p mark, a fresh 16-month high for the stock.

Bunzl share price soared 4% on good H1 results August 2020

Nigel F
Nigel F
Team Member

Nigels tiefes Verständnis der Finanzmärkte basiert auf über 10 Jahren Erfahrung. Nigel wurde bisher zweimal von der FCA (Financial Conduct Authority) autorisiert und hat in der letzten Zeit eine Finanz-Brokerage Firma besessen und verkauft. Er liefert hochaktuelle Analysen und Einsichten in die Finanzmärkte und in die allgemeine Wirtschafts- und Währungspolitik des Vereinigten Königreichs, der USA, Europas und Asiens.