UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 or 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For December 17, 2004
BUNZL PLC
(Exact name of Registrant as specified in its charter)
ENGLAND
(Jurisdiction of incorporation or organisation)
110 Park Street, London W1K 6NX
(Address of principal executive offices)
(Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F..X.. Form 40-F.....
(Indicate by check mark whether the registrant by furnishing the information
contained in this form is also thereby furnishing the information to the
Commission pursuant to rule 12g3-2(b) under the Securities Exchange Act
of 1934.)
Yes ..... No ..X..
(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): )
NOT APPLICABLE
INDEX
Description
1. Press release dated December 17, 2004 - Trading Update & Acquisition
17 December 2004
BUNZL PRE-CLOSE STATEMENT AHEAD OF ANALYST MEETINGS AND OUTSOURCING SERVICES
ACQUISITION IN THE NETHERLANDS
Bunzl plc, the international distribution and outsourcing Group, will be
speaking to analysts today prior to its close period for the year to 31 December
2004. The Company will be indicating that:
- The overall results for 2004 are expected to be in line with market
estimates despite the continuing weakening of the US dollar.
- The recent trends in the markets of Outsourcing Services North America
have continued. Volume growth in redistribution and food processors has
continued while supermarkets generally have remained flat. While some price
increases have held, reflecting sustained higher input prices to certain
suppliers, the effects of product substitution and overcapacity in the US
supply base are offsetting overall price movements.
- The recent increase in the pace of acquisition activity in the US
including TSN, Weil and TEMO has continued the focus on developing the
higher growth convenience store and redistribution sectors and further
developing Bunzl's presence in the jan/san market.
- Outsourcing Services Europe & Australasia has continued its rapid progress
with sales in 2004 expected to top GBP1 billion and margins continuing to
benefit from the increased overall scale of operations.
- Groupe Pierre Le Goff, the substantial French business acquired in May,
continues to trade strongly. It not only greatly improves Bunzl's coverage
of Europe but also enhances the Group's position in the cleaning & safety
markets. Among other acquisitions in the period, the Cospak business is
settling well into the Group in Australia and Beltex represents a first
move into interesting growing markets in Eastern Europe.
- Filtrona continues its expansion. The businesses based on fibre
technologies (Filters and Fibertec) are developing satisfactorily as they
expand their production bases into Mexico and China.
- The plastics based businesses within Filtrona have also experienced
good growth as each product group and geography has benefited from focused
expansion. The acquisition of Skiffy has settled well into the Group.
- The main areas impacted by IFRS will be addressed at the results
presentation in February 2005 with a full IFRS restatement of the financial
results for 2004 currently expected to be available in the second quarter
of 2005.
- Since October 2004 the Group has bought back 13.0 million shares into
treasury at a total cost of GBP58.2 million. In addition, the total
acquisition spend during 2004 now totals over GBP310 million (excluding
the acquisition of Gelpa detailed below).
- While the persistence of the current level of the US dollar in 2005 would
have a translation impact compared to the previous year, which would only
be partially offset by the strengthening of the euro, the Group remains
well positioned to produce good underlying results in 2005, generate cash
and take advantage of opportunities to grow. The preliminary results for
the year to 31 December 2004 will be published on 28 February 2005.
Bunzl also today announces that it has entered into an agreement to acquire
Gelpa Verpakkingsgroep, a distributor principally supplying the retail and food
processor sectors with packaging and consumables in the Netherlands. Completion
of the acquisition is subject to clearance from the Dutch competition
authorities.
Gelpa, which is based in Arnhem, had sales in 2003 of EUR43 million. The value
of the net assets to be acquired on a debt free basis is expected to be
approximately EUR7.9 million.
Commenting on the acquisition, Anthony Habgood, Chairman of Bunzl said:
"Gelpa is an important acquisition for us in the Netherlands as it will
complement our existing business there which is focused on the hotel, restaurant
and catering markets. With the addition of Gelpa's product offering and customer
base, it will enhance our ability to provide our current customers and Gelpa's
customers with a 'one-stop-shop' for all of their needs."
Enquiries:
Bunzl plc Finsbury
Anthony Habgood, Chairman Roland Rudd
David Williams, Finance Director Morgan Bone
Tel: 020 7495 4950 Tel: 020 7251 3801
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
BUNZL PLC
Date: December 17, 2004 By:__/s/ Anthony Habgood__
Title: Chairman