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Distribution and services group Bunzl reinstated its dividend after first-half profit rose by more than a fifth as strong demand for Covid-19 related products in Continental Europe helped boost performance.
For the six months ended 30 June 2020, pre-tax profit rose 22% to £245.4m on-year as revenue grew 6.7% to £4.8bn.
Revenue grew 18.9% in Continental Europe driven by 'demand for Covid-19 related products,' the company said. In North America, which accounts for the bulk of growth, revenue fell underlying revenue fell 3.9%.
As a result of the better than expected trading performance during the first half of the year, the company decided to reinstate and pay the final dividend of 35.8p and raise its interim dividend by 1.9% to 15.8p.
'Looking forward, although there remains considerable uncertainty, we expect to face challenging trading conditions during the second half of the year,' the company said.