| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Bunzl sees lower revenue in 2021 on slowing sales of Covid-19 related products
StockMarketWire.com
|
Distribution and services group Bunzl said sales were expected to grow in 2020, but it forecast a fall in revenue next year as sales of Covid-19-related products such as gloves continued to slow. Reported revenue for the year through December 2020 was seen rising 8%, or by 9% on a constant currency basis. 'At constant exchange rates the group expects revenue in 2021 to be lower than the current year with minimal benefit from larger Covid-19 related orders, which have strongly supported the performance in 2020,' Bunzl said. Still, sales in 2021 would otherwise by supported by an underlying recovery in sales of other products, while acquisitions made in 2020 also would make a contribution. Separately, Bunzl said it had completed the purchase of Snelling, a Canadian business focused on the sale of cleaning products and industrial and foodservice packaging, with revenue in 2019 of C$48 million (£28 million). Snelling principally supplied customers operating in the grocery, industrial and hospitality sectors throughout Eastern and Central Canada.
Story provided by StockMarketWire.com
|
|
|
|
|
|
