Dec 16, 2020

City Bulletin: Bunzl receives Covid-19 boost but looks to tougher 2021

Revenue for the current year will grow around 8 per cent including acquisitions, or between 4 and 5 per cent on an organic basis, which compared to a consensus forecast of 3.3 per cent. Bunzl also cautioned that 2021 sales and margins will be lower than the current year, with minimal benefit from larger Covid-19 related orders which have strongly supported its performance in 2020. Consumer prices rose 0.3 per cent in annual terms after a 0.7 per cent rise in October, the Office for National Statistics said. Like-for-like sales of electricals rose 17 per cent with online sales more than doubling to £1.8bn, Dixons said. Trading in the group's Hong Kong-listed shares was suspended on Wednesday, while the Shanghai-listed stock fell 7 per cent.

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