April 22 (Reuters) - Business supplies distributor Bunzl posted a 2% rise in first-quarter underlying revenue on Wednesday, driven by higher volumes and tariff-related price increases, and kept its 2026 outlook despite geopolitical and macroeconomic uncertainties.
The British group, a supplier of everything from stationery to food packaging across 33 countries, has cut costs and reshaped its product mix in North America, which accounts for more than 50% of its revenue, after weak demand and execution weighed on margins.
Bunzl said underlying revenue growth at its North American business was "slightly ahead" of the group in the three months ended March 31, while other business areas reported a "slight" increase in total.
The update comes at a time when companies globally are grappling with weak business sentiment as the Iran war has sent fuel and freight costs sharply higher. Bunzl acknowledged that current sentiment had become more uncertain, but was confident in its prospects.
The company continues to expect moderate revenue growth at constant exchange rates for the year, supported by acquisitions, while operating margin is seen slightly lower year-on-year. It said it also expects an improved outlook for acquisitions in the year.
(Reporting by Neeshita Beura in Bengaluru; Editing by Subhranshu Sahu)
