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Distribution and services group Bunzl said it expected revenue in 2022 to be 'slightly' higher than in 2021, driven by the boost from acquisitions completed this year.
Operating margins in 2022 were expected to normalise to more historical levels, as the 'mix of sector and product sales returns to more typical levels for the group,' the company said.
The outlook for 2022 was provided alongside guidance for 2021, with revenue for the year ending 31 December 2021, expected to increase year-on-year by approximately 2% at actual exchange rates.
At constant exchange rates, underlying revenue growth was expected to reflect a 'strong recovery in the base business, supported by inflation, partially offset by the anticipated decline in Covid-19 related orders with deflation on certain Covid-19 related products,' the company said.
Adjusted operating margin was expected to be only slightly ahead of historical levels.