Many of us haven’t heard of Bunzl, although the ‘solutions’ business reckons that several of us use its products every day of our lives.
The company provides items we don’t even think about – disposable forks, soap in the office toilets and even surgical gowns. Making sure these items are in the right place at the right time has catapulted the business into the FTSE 100.
Bunzl distributes products in 31 countries to 800,000 customers, and this week’s full-year figures show that the company is delivering in every sense.
In focus: Bunzl distributes products in 31 countries to 800,000 customers, and full-year figures show that the company is delivering in every sense
Profits are up 12 per cent before tax and the dividend is up 10 per cent. But that hasn’t stopped the firm falling out of favour with analysts.
Stockbroker Brewin Dolphin in January placed it third on analysts’ ‘least-loved stocks for 2023’, with nine analysts recommending you hold the shares, five recommending you sell them and just five recommending a buy.
A look at the share price graph might provide a clue to analysts’ discomfort. Bunzl shares are up 44 per cent over the past five years and 5 per cent this year alone at £29.39.
Midas first recommended them in 2010 at £5.50, and reiterated them as a buy in September last year at £28.33.
While the company continues to clean up, you might want to take some profits at this level as the shares have had a good run.
Traded on: Main market Ticker: BNZL Contact: bunzl.com or 020 7725 5000
