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Bunzl profits up in spite of weaker dollar

February 24, 2003
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ST. LOUIS, MO — The parent company of Bunzl Distribution, Inc., St. Louis, posted 5 percent higher profits for fiscal 2002, at the high end of analysts'' forecasts. London, England-based Bunzl plc (NYSE:BNL) supplies cleaning products and disposables to hotels, supermarkets, etc. and makes food packaging and bags. While Chairman Anthony Habgood said there is some uncertainty in the market by good volume growth, strong positions in our markets and a continuing pipeline of potential acquisitions give the company leadership confidence. Pre-tax operating income was $330.33 million (US)/ More information in a report from Reuters. Another report cited a weak dollar and lower prices as trimming profits. Last month, Bunzl Distribution announced the acquisition of the $23.8-million-a-year Saxton, Inc. (Phoenix) redistribution business. For related stories, click here. To return to today''s news, click here. To discuss this item with other industry professionals, click here.