Bunzl revenue growth continues to slow amid mixed macroeconomic conditions

  • Tue 22 Oct 2019 07:21

    Outsourcing company Bunzl said a slowdown in underlying revenue growth continued in the third quarter, owing to mixed macroeconomic and market conditions.

    Revenue growth for the third quarter was 4% at actual exchange rates, with acquisitions contributing 1.5%.

    Underlying revenue decreased by 1%, which the company blamed on lower sales to a large grocery customer in North America due to account specific product specification changes and price deflation. 'The group's expectations for the year ending 31 December 2019 remain unchanged with overall trading consistent with the slowing underlying revenue growth indicated in previous announcements this year due to the impact of the continued mixed macroeconomic and market conditions across the countries and sectors in which the group operates,' the company said.

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