London, May 1, 2026, 17:05 (BST)
Bunzl plc reported Friday that as of April 30, its share capital was made up of 324,211,429 ordinary shares, each carrying a single vote. The company confirmed it holds zero shares in treasury. That’s the updated voting-rights tally for the London distributor.
This update is key right now—shareholders rely on it to determine if they need to disclose their holdings or any changes under UK rules. Last week, Bunzl left its 2026 targets as they were, which means most investors are looking past the share count and paying closer attention to whether margins hold up this year.
Bunzl shares ticked up 0.29%, closing at a sell price of 2,433p and a buy at 2,436p, Hargreaves Lansdown’s delayed data showed. The feed also listed a market cap near £7.80 billion, with volume a bit above 550,000 shares.
Growth quality remains the sticking point. Bunzl reported a 1.5% rise in first-quarter revenue at constant exchange rates—excluding currency effects—while underlying revenue climbed 2.0%. Actual exchange rates told a different story: revenue slipped 0.4%.
Underlying revenue—Bunzl’s measure combining organic sales, adjusted for trading days and stripping out Turkish hyperinflation above 26%—was unaffected by Turkey this period, according to the company. Fewer trading days shaved 1.1% off revenue. Acquisitions, after disposals, contributed a 0.6% lift.
North America is still the main focus. According to Reuters, the division generates over half of Bunzl’s sales. The company responded to soft demand and operational missteps in the region by reducing expenses and adjusting its product lineup. For the first quarter, Bunzl reported that underlying revenue in North America edged out growth in the broader group.
Frank van Zanten, the chief executive, confirmed Bunzl’s underlying revenue growth and stuck to the group’s full-year outlook. He described 2026 as “a foundation for future profit growth.” The acquisitions pipeline? Still busy. Van Zanten sees a stronger deal environment than last year. Bunzl
Bunzl is sticking with its forecast for 2026: moderate revenue growth at constant exchange rates, supported by underlying gains and a minor lift from acquisitions. The company also sees operating margin coming in a bit lower than the previous year. For 2025, Bunzl booked £11.85 billion in revenue and adjusted operating profit at £910.3 million, delivering an operating margin of 7.7%, a drop from 8.3% in 2024.
Bunzl operates in 33 countries, distributing non-food consumables to sectors like grocery, cleaning and hygiene, foodservice, retail, safety, and healthcare. Its scale gives a wide lens on pricing and volume trends, with U.S. peers like Sysco and W.W. Grainger offering partial benchmarks. Still, Bunzl’s acquisition-heavy approach and distinct product spread set it apart.
One problem: price hikes tied to tariffs might not cover rising freight, fuel, or other expenses. Reuters reported that companies worldwide have faced sluggish business sentiment as the Iran war pushed up fuel and shipping costs. Bunzl echoed that, saying the broader geopolitical and economic climate had turned shakier.
Bunzl’s half-year results drop Sept. 1, the next item on the company’s financial calendar. The latest voting-rights filing on Friday clarifies the shareholder math but leaves open the bigger issue investors care about: Can Bunzl translate consistent revenue gains into stronger margins?
