2 weeks Ago
Growing uncertainty over Donald Trump's tariffs has wiped more than £2bn from the value of one of the UK's biggest listed businesses, sending shares in the paper cups to plastic bags distributor Bunzl plunging more than 25%. The FTSE 100 group, which provides everyday goods for other companies, warned about "macroeconomic uncertainty" as it said sales had been soft in its North American operation. The chief executive, Frank van Zanten, said he was disappointed with the performance in the first quarter of a "challenging trading environment".
He said: "We are taking decisive action to improve performance in the group, particularly with regards to execution in our largest business in North America." Bunzl expects moderate revenue growth and operating margin to end the year below 8%, compared with 8.3% in 2024.
The group had previously forecast robust revenue growth this year and its operating margin to be in line with 2024. Bunzl also said on Wednesday it would pause its share buyback programme for the remainder of 2025, having already spent..
. Lauren Almeida.
