Bunzl posts lower organic growth rate in first half
LONDON, June 23 (Reuters) - British business supplies distributor Bunzl said organic growth slowed in the first half of its financial year, due to some lost business and price declines on plastic resin based products in North America.
The group, which distributes consumable products such as carrier bags and food packaging, said its overall performance was consistent with its expectations in April after it reported around a 6 percent rise in group revenue due to recent acquisitions.
However its organic growth rate of 1 percent was lower than last year's 2 percent.
Bunzl has acquired four businesses in the United States, Colombia, Canada and France, it said in a separate statement. (Reporting by Li-mei Hoang)
© Thomson Reuters 2016 All rights reserved.