StockMarketWire.com - Distribution and services group Bunzl reported a rise in revenue in the third quarter of the year following a 'strong' recovery in its core business.

For the third-quarter, revenue grew 7.8% year-on-year at actual exchange rates, with acquisitions contributing 4.3% to growth.

Looking ahead, the company said it expected margins to return to historical levels.

'With 2021 continuing to reflect pandemic-related dynamics, we continue to expect to see a further normalisation of operating margin in 2022 to more historical levels, as the mix of sector and product sales returns to more typical levels for the group,' the company said.

The company also said it had completed the acquisition of Intergro, a distributor of agricultural supplies to commercial growers in the Eastern US with a strong own brand portfolio.

Intergro generated revenue of £17 million in 2020 and was 'complementary to our existing agriculture business in North America,' the company said.

The group also completed the previously announced acquisition of McCue Corporation during October following competition clearance.


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