Shares in Bunzl were up on the FTSE 100 in afternoon trading after the outsourcing firm reported a rise in revenue and pre-tax profit in the year ended 31 December 2010.

Group revenue increased four per cent to £4.8 million, while pre-tax profit before exceptional items rose seven per cent to £276.2 million. After exceptional items pre-tax profit increased four per cent to £225.2 million.

Bunzl said it would be raising its dividend for the year eight per cent to 23.35 pence per share.

During the year Bunzl expanded its operations in Switzerland and began operations in Israel. The group also said it spent £126 million on nine acquisitions in the year.

Michael Roney, Chief Executive of Bunzl, said, "Despite continuing challenging economic conditions across our international markets, the Group has once again delivered another good set of results. Our organic growth, as we continued to gain additional business with existing customers combined with new customer wins, was bolstered by acquisition activity with nine acquisitions announced during the year.

"Looking ahead, we believe that the opportunity for future development both organically and through acquisitions, combined with our market leading positions and our strong cash flow and balance sheet, should enable the Group to achieve further growth."

By 15:00 shares in Bunzl were up 1.19 per cent on the FTSE 100 to 765.00 pence per share.

FTSE Israel