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Finance

UK's Bunzl posts higher third-quarter revenue, maintains annual forecast

Published by Global Banking & Finance Review

Posted on October 20, 2026

2 min read

· Last updated: October 20, 2026

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Bunzl Posts 3.7% Q3 Revenue Rise, Maintains Full-Year Forecast

Q3 Financial Performance and Strategic Developments

Revenue and Operating Margin

Oct 20 (Reuters) - British business supplies distributor Bunzl reported a 3.7% rise in third-quarter underlying revenue on Tuesday and maintained its annual forecast, supported by growth in its largest market, North America.

• The company said operating margin for the three-month period ended September 30 was in line with management expectations

North American Market Performance

Stabilisation and Growth Factors

• Bunzl's North American distribution business has stabilised after last year's reorganisation, helped by restored local control over pricing and inventory, new leadership and cost cuts

• North America accounted for 53% of group revenue in 2025

Investor Activity and Strategic Review

• A source said in June that activist investor Elliott holds a roughly 5% stake and is pushing Bunzl to buy back up to 10% of its market value and review its North American business

Acquisitions and Stock Performance

Acquisition Strategy

• Bunzl said it remains focused on making further bolt-onacquisitions from its "active pipeline," while retaining balance sheet headroom to fund them

Stock Market Overview

Recent Stock Trends

• The stock has gained nearly 37.4% this year but remains roughly 22.2% below its September 2024 record high

(Reporting by Anushka Chourasia in Bengaluru; Editing by Subhranshu Sahu)

Key Takeaways

  • Underlying Q3 revenue rose 3.7%, with operating margin in line with expectations.
  • North American operations, which made up over half of group revenue in 2025, have stabilised following reorganisation and cost reductions.
  • Activist investor Elliott, holding near 5%, is pressing for up to 10% buyback and strategic review of North America operations.

Frequently Asked Questions

What was Bunzl's third-quarter revenue growth?
Bunzl reported a 3.7% rise in third-quarter underlying revenue.
How did Bunzl's North American operations perform?
North American operations stabilized after last year's reorganisation, with improved pricing and inventory control.
What percentage of Bunzl's revenue comes from North America?
In 2025, North America accounted for 53% of Bunzl's group revenue.
Is Bunzl planning any acquisitions?
Bunzl remains focused on making further bolt-on acquisitions from its active pipeline.

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