Bunzl Reports H1 Revenue Growth and Announces £500 Million Buyback

Bunzl reported first-half 2026 revenue of £5.93 billion, representing a 3% increase from the previous year and marking the company's fifth consecutive quarter of positive underlying growth. Adjusted operating profit rose 8.9% to £440.6 million, while adjusted profit before tax increased 10.2% to £380.9 million.

Growth was primarily driven by increased volume in North America and product cost inflation during the second quarter. In response to these results, the company announced a £500 million share buyback program to be executed over the next 12 months and upgraded its 2026 guidance, now expecting operating margins to remain broadly flat year-on-year.

CEO Frank van Zanten stated that the company expects 2026 to serve as a foundation for future profit growth despite volatile input prices and an uncertain macroeconomic environment. He expressed confidence in the ability of the company to deliver consistent compounding growth in the medium-term.