Bunzl quarterly revenue growth slows on North America weakness

(Reuters) - affair supplies distributor Bunzl said above Wednesday first-quarter growth had slowed because grocery and retail affair at its biggest just North America remained sluggish, and posted a few originate at crowd revenue.

Bunzl shares fell 10 percent at early business after the company's total revenue saw a mere 2.5 percent originate at successive currency, compared with a 14 percent growth a year earlier.

Underlying revenue growth at North America was about 1 percent because of a lagging grocery and retail business, which was dented by a need of price inflation and weak demand, the company said.

The company, which has operations at about 30 countries, because healthy blamed slower growth above wider economic conditions over nations it operates in.

JPMorgan said the slowdown was no because of any harmony losses at the company, which supplies a disparate range of products from disposable tableware to packaging supplies, latex gloves and cleaning chemicals.

Bunzl, which has made above 150 acquisitions though 2004, expanded into grocery and retail at North America with acquisitions besides higher costs and lower margins read pressured the segment, because healthy hurting its overall margins.

Bunzl, which supplies to customers at different sectors including government, healthcare and food service, because healthy said it acquired Netherlands-based packaging supplies company Coolpack.

The company, known because making few acquisitions to lift the affair and consolidate its fragmented goal markets, because healthy said latent acquisitions because the year was "promising".

(This novel corrects to state North America underlying revenue growth was injure by "a need of price inflation," no "price inflation," at paragraph 3.)

(Reporting by Yadarisa Shabong and Pushkala Aripaka at Bengaluru; Editing by Gopakumar Warrier)