Bunzl H1 Profit Surges

Bunzl plc (ADR) BZLFY reported a rise in its first-half pretax profit. The company's pretax profit the period climbed to GBP147.1 million ($230.4 million), versus a year-ago profit of GBP132.3 million. Its profit for the same period jumped to 105.1 million pounds from 89.8 million pounds, while EPS rose to 31.8 pence from 27.3 pence. Its sales gained 5 percent to GBP3.14 billion. The company's board declared an interim dividend of 11.75 pence, compared to 11 pence last year. Chief Executive Michael Roney said, "Bunzl has produced another good set of results due to a combination of organic revenue growth, the impact of recent acquisition activity and the continued focus on improving the efficiency of our operations." The company announced its plans to buy a packaging company in Austria, Meier Verpackungen GmbH. Bunzl shares fell 1.08 percent to close at $28.32 on Friday.