Bunzl profits rise, eyes more deals

The FTSE 100 company also announced it had completed two further acquisitions: California-based Cool-Pak, a leading distributor of packaging to fruit and vegetable growers in the US, and Brazil's AM Supply Comércio Representação e Serviços, which supplies personal protection equipment to the country's oil sector.

Stripping out amortisation and the cost of the purchases, profits rose 8pc to a better-than-expected £125m.
Michael Roney, chief executive of Bunzl, said: "In spite of the continuing difficult economic conditions, I am pleased to report good growth in profitability and continued strong operating cash flow for the first half of 2010.
"This, combined with the resumption of acquisition activity which has resulted in us acquiring businesses with annual revenues of £140m so far this year, gives us a platform and momentum for further growth."
Shares in Bunzl, which started life as a haberdashery in Bratislava in 1854, rose 0.7pc to 707p.
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