London, March 13, 2026, 18:44 GMT
Bunzl snapped higher again Friday, finishing up 2.13% at 2,304 pence. That marked a 3.6% gain across the last two sessions, even as the FTSE 100 dropped 0.43%. Despite the bounce, shares remain around 25.6% under their 52-week high.
The shift is notable with Bunzl still feeling the aftershocks of April’s profit warning and the margin alert delivered in December. Annual numbers this month stuck to the 2026 guidance, flagging hopes for a stronger second half—North America in focus, as the company pushes to rebound from recent operational stumbles.
Bunzl, the distributor known for supplying packaging, cleaning and safety gear to foodservice, retail, and healthcare clients, reported 2025 revenue at 11.85 billion pounds, with adjusted operating profit coming in at 910.3 million pounds. Looking ahead to 2026, the company expects to see moderate revenue growth but flagged that operating margin—a straightforward gauge of profit on sales—will edge down from the previous year.
Frank van Zanten, the chief executive, flagged 2025 as a “challenging year,” though he maintained Bunzl’s “more stable profit outlook” for 2026 hasn’t shifted. He argued the company’s business model can still underpin growth over the medium term. Bunzl
North America remains the key focus for investors. Adjusted operating profit in the region dropped 11.5% last year, with margin sliding to 7.0% from 7.9%. Bunzl pointed to new leadership, tighter cost controls and stronger supplier relationships as factors that lifted results in the back half.
Bunzl’s numbers pointed to more stability. The group logged a 95% cash conversion rate and generated 579 million pounds in free cash flow. The full-year dividend nudged up 0.3% to 74.1 pence. Bunzl also reiterated that its acquisitions “pipeline remains active,” noting a better deal outlook in 2026. Bunzl
The big worry: repairs might drag out. Bunzl is still guiding for a slimmer margin in 2026, and cautioned that economic and geopolitical headwinds aren’t going anywhere. CEO van Zanten told Reuters the numbers showed “no positive impact from tariffs.” On top of that, the group highlighted soft demand hitting food processing, convenience stores, and its business in Mexico. Bunzl
On March 2, Reuters said annual profit topped estimates, with fresh contract wins helping to counter earlier softness and sending shares up 2.37% for the day. Still, Bunzl’s board isn’t satisfied—despite Friday’s gain, they say this year’s share price “did not meet expectations.” Trading volume on Friday came in at 981,850 shares, lagging the 50-day average of 1.2 million. Reuters
