Bunzl’s interim EPS of 90.8p was about 2.5% ahead of consensus expectations, which stood at 88.6p. This exceeded RBC Capital Markets’ estimate of 87.7p and Jefferies’ estimate of 89.0p.
Bunzl has announced a new plan to invest £700 million annually in acquisitions and potentially return money to shareholders. “BNZL has a solid long-term track record of self-funded EPS growth and progressive dividend growth, but we currently see the group's heavy B2B2C exposure as relatively unattractive against a backdrop of growing headwinds for consumers across many key markets,” said analysts at RBC Capital Markets in a note.
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