Tiger Brokers

BUZZ-UK's Bunzl bottoms FTSE 100 on profit outlook impact from stickier deflation

Reuters
Dec 17, 2024
BUZZ-UK's Bunzl bottoms FTSE 100 on profit outlook impact from stickier deflation

** Shares of business supplies distributor Bunzl BNZL.L down 5% at 3380p, their lowest levels since Aug 23, 2024

** Stock is top loser in the FTSE 100 index .FTSE, which is down 0.7%

** Projects slight impact on 2024 profit, hurt by stickier-than-anticipated deflation, especially in the Continental Europe division

** Still, co sees 2024 group adj operating profit to be higher in comparison with 2023 at constant exchange rates

** Expects "robust" revenue growth in 2025

** Forecasts 2024 revenue to be around 3% higher than last year at constant exchange rates, and between 0% and 1% lower at actual exchange rates

** As of last close, stock up 11.5% YTD

(Reporting by DhanushVignesh Babu in Bengaluru)

((DhanushVignesh.Babu@thomsonreuters.com;))

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