Bunzl secures two acquisitions
The group, which distributes consumable products to businesses, said it had agreed to buy Mexican safety products supplier Espomega and Britain’s TFS, which provides point-of-sale materials.
The two deals take Bunzl’s spending on acquisitions to £203m ($316m) so far this year, and it said it had a promising pipeline of opportunities for the rest of the year. It spent a total £272m in 2012.
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Hide AdAcquisitions helped the group post pre-tax profit of £167.6m for the six months to the end of June, on revenue up 13 per cent to £2.96bn, resulting in adjusted earnings per share of 27.8 pence.
Analysts were expecting the group to report pre-tax profit of £163.4m, according to a company-supplied consensus of 13 brokers.