Weak pound lifts Bunzl

THE weak pound helped Bunzl to higher revenues as it reaped rewards from its US business.

Profits at the packaging and safety gear group rose to £182m in the six months to the end of June, up 17pc on the same period last year. This was partly thanks to acquisitions it has made in North America and the pound’s continued weakness against the dollar.

The vast majority of Bunzl’s revenues, which rose 20pc to £4.1bn over the period, are booked in the US. This helped to cushion it from headwinds that have hit other British outsourcers, including rising costs and shrinking Government spending.