StockMarketWire.com - Distribution and services group Bunzl said it expected to report a 1% rise in first-half revenue as a strong recovery in demand from foodservice and retail sectors was largely offset by the anticipated decline in larger Covid-19 related orders.

For the six months ending 30 June 2021, revenue was expected to increase by approximately 1% at actual exchange rates and to increase by 6% to 7% at constant exchange rates,

Underlying revenue over the first half was expected to be approximately 6% higher than the comparable 2019 period.

Group adjusted operating margin for the first half was expected to be nearly 1% higher than that achieved in the first half of 2019 supported by smaller Covid-19 related orders.

Looking ahead, the company maintained its revenue guidance for the year, but increased its adjusted operating margin expectations for the year to be 'slightly ahead' of historical levels.

Bunzl also announced that at the end of May it completed the acquisition of two businesses.

Comax, a distributor to the leisure, janitorial, care home and foodservice sectors in the UK, and Harvey Distributors, a cleaning & hygiene distributor in Australia with customers in the healthcare, education, foodservice and facilities management sectors.

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