Bunzl Announces Major Share Buyback and Profit Forecast Boost

The UK logistics firm plans substantial acquisitions and returns to shareholders amid rising profit margins.

Bunzl will initiate a £450 million share buyback plan, with £250 million to be completed by March and another £200 million next year.
The company has raised its profit forecast for 2024, citing robust demand and successful acquisitions.
Operating profit for the first half of 2024 increased by 3.9% to £455.5 million, despite a slight revenue decline.
Bunzl aims to invest about £700 million annually in acquisitions until 2027.
The firm is focusing on expanding in the US market while managing lower volumes in North America.