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BUNZL News Release BUNZL Q3 TRADING STATEMENT Bunzl plc , the specialist international distribution and services Group , today announces its trading statement for the period since 30 June 2021 . Bunzl's diversified and resilient business model has delivered strong overall growth against a background of continuing pandemic - related challenges . Group revenue for the third quarter was 7.8 % higher year - on - year at actual exchange rates , an increase of 13.0 % at constant exchange rates . Acquisitions contributed revenue growth of 4.3 % at constant exchange rates , while a greater number of trading days than the comparable period in 2020 further benefited revenue growth by 6.2 % although this will unwind in the fourth quarter . Underlying revenue growth at constant exchange rates was 2.5 % . Group adjusted operating margin was , as expected , impacted by ongoing deflation in certain Covid - 19 related products . 26 October 2021 Within underlying revenue growth of 2.5 % , the strong recovery in the base business contributed underlying sales growth of 12.0 % , with broad strength across business areas and continued support of product inflation particularly in North America . This growth was largely offset by a 9.4 % impact on underlying growth from a decline in sales of top 8 Covid - 19 related products , which are primarily own brand . Underlying revenue for the third quarter was approximately 10 % higher than the comparable 2019 period . With good revenue performance year to date the Group now expects slight underlying revenue growth in 2021 compared to 2020 at constant exchange rates . Given the strength of performance in 2020 revenue is expected to demonstrate good underlying growth compared to 2019 , highlighting the quality and resilience of the Bunzl business model . Margin expectations for the year are unchanged , with adjusted operating margin expected to be only slightly ahead of historical levels . With 2021 continuing to reflect pandemic - related dynamics , we continue to expect to see a further normalisation of Group 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 Group also announces today that at the end of September it completed the acquisition of Intergro LLC ( " 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 is complementary to our existing agriculture business in North America . The Group also completed the previously announced acquisition of McCue Corporation during October following competition clearance . Frank van Zanten , Chief Executive Officer of Bunzl , commented : " At our recent Capital Markets Day , as well as providing insights into the opportunity that sustainability presents to Bunzl , we highlighted the strength of our compounding strategy which has delivered strong shareholder returns for many years . This track record of success continues with another good trading performance in Q3 and the acquisition of Intergro , which is our 11th acquisition year to date . Intergro is complementary to our existing agricultural business and broadens the Group's product offering to customers . Our acquisition pipeline remains active , supported by the strength of our balance sheet . " Enquiries : Bunzl plc Frank van Zanten , Chief Executive Officer Richard Howes , Chief Financial Officer Sunita Entwisle , Head of Investor Relations Tel : +44 ( 0 ) 20 7725 5000 Tulchan Martin Robinson Olivia Peters Tel : +44 ( 0 ) 20 7353 4200 Bunzl plc , York House , 45 Seymour Street , London W1H 7JT . Tel : +44 ( 0 ) 20 7725 5000