Lupo di mare
29 Aug 2017
Interims Nice to see organic growth improving; it's taken a long time. I do wonder why the "Rest of the World" is so fragmented (if that's the right word), with revenue of £350m (was it) spread across some 7 countries. How do they expect to achieve benefits of scale with such a small presence in each country? Admittedly, when one country suffers, it will only have a small effect, but in my humble, and with sodall knowledge, I'd have thought that strengthening the presence in fewer countries would have been a better approach. Just a thought.Debt remains reasonable, and the Pension Deficit is very low.; so all in all a worthy hold for me.
II Editor
28 Jun 2017
NEW ARTICLE: Bunzl back in favour as empire keeps growing "Acquisitive blue-chip LSE:BNZL:Bunzl continues to impress the City, as it embarks on yet another year of empire-building. As well as a decent first-half, the international outsourcer has spent £30 million on three acquisitions - one in Spain and ..."[link]
Lupo di mare
19 Apr 2017
Re: Trading statement Nothing new really, and nothing expected, although I'd have liked to hear something more on that elusive organic growth.The £'s strength's is going to be a drag - as long as it lasts.Hold for me atm.
Lupo di mare
18 Apr 2017
Trading statement ...tomorrow, folks.
Lupo di mare
27 Feb 2017
Re: Finals Wow, Embridge, that's even before I first bought some in 12/95!Highly rated at a P/E of some 21, but if they keep on churning out the growth and can create more organic growth, then they're worth it.
Embridge
27 Feb 2017
Re: Finals Hi Lupo. I am on this board and bought into bunzl alongtime ago at a £1.50 price point. Fantastic slow burner to growth. not read the results yet but your post sounds good.
Lupo di mare
27 Feb 2017
Finals That's more like it in every respect. Operating margins up and debt under control. Looks as if just maybe the acquisitions are providing the organic growth we seek. Bought back the shares I flogged at 2340 - if anybody else is on this board.
Lupo di mare
26 Oct 2016
Update Zero constant currency growth. When are all those acquisitions going to translate into organic growth?Slowly reducing holding.
Lupo di mare
09 Sep 2016
Today's dip In case anybody's wondering:-"Logistics and outsourcing company Bunzl was down 1.8% after it was cut by Morgan Stanley to Underweight from Equal-Weight and by HSBC to Hold from Buy."
II Editor
30 Aug 2016
NEW ARTICLE: Is this THE most reliable share in the FTSE 100? "Ask 10 investors which share in the FTSE 100 (INDEXFTSE: UKX) is the most reliable and you might get 10 different responses. Some might choose a utility company for its steady earnings stream. Others might opt for a big pharmaceutical, since ..."[link]
Lupo di mare
30 Aug 2016
Interims Still growing, but when are they going to start growing organically? They're improving margins, but revenue growth is only coming from acquisitions. Yes, it's bringing in improving divis, but they're all over the place. They should be using their networks to grow, in addition to acquiring. Says I....
II Editor
29 Jun 2016
NEW ARTICLE: Why Bunzl just hit a record high "Hardly touched by the UK's vote to leave the European Union (EU), LSE:BNZL:Bunzl has rocketed this year and its latest rally has taken shares in the distribution company to all-time highs. A defensive darling on the stockmarket, a lower-interest ..."[link]
Lupo di mare
20 Apr 2016
Re: Trading statement Further to that, should Bunzl be buying businesses in countries such as New Zealand and Columbia, for example, when there's still consolidation to be done in N. America and Europe. Even Turkey is kind of outside of where we should be.Maybe we'll get a change of strategy when Rooney goes.
Lupo di mare
20 Apr 2016
Trading statement Yes, ok, no problems, but they're still failing to achieve the organic growth that I'd expect from the benefits of scale that they should be achieving from all the acquisitions that they've made.Maybe that's because they're still growing from relatively small beginnings in add-on countries. I don't know, but I'd like an explanation. Going to check out their last Annual Report - something that I don't get these days.
II Editor
24 Aug 2015
NEW ARTICLE: Is Bunzl worth premium rating? "Relying on M&A activity for growth is always riskier than organic expansion, but LSE:BNZL:Bunzl's strategy seems to be paying off. However, after five years of impressive share price growth, one analyst is concerned that there isn't enough ..."[link]
