Bunzl Expects Revenue Decline in 2023

Bunzl, a leading distribution-and-outsourcing group, has announced its projections for 2023 revenue. Despite the uncertain economic environment, the company remains optimistic about its future growth.

According to Bunzl, the anticipated revenue at constant exchange rates for 2023 is expected to be 1% to 2% lower. This projection includes the disposal of the U.K. healthcare arm, which was agreed upon in December of last year.

However, when excluding the disposal, Bunzl expects its group revenue to be in line with its 2022 performance. In 2022, the company reported a revenue of £12.04 billion ($15.19 billion).

Bunzl also projects moderate growth in adjusted operating profit for 2023, with the operating margin set to surpass the previous record level. In 2022, the company achieved an adjusted operating profit of £885.9 million.

Chief Executive Frank van Zanten expressed confidence in the company's performance, stating, "The group is on track to deliver moderate adjusted operating profit growth, supported by a record operating margin, and we are guiding to further growth in 2024, continuing to build on the strong performance we have seen over recent years."