Bunzl raises FY guidance, Telecom Plus expects FY27 profit decline

Bunzl raised its full-year guidance, while Telecom Plus warned that earnings for FY27 are expected to decline as it launches a multi-year expansion plan. The report says the FTSE 100 was projected to open 111.3 points lower on Tuesday after closing the prior session up 0.72% at 10,437.85. Telecom Plus, which trades as Utility Warehouse, reported adjusted pre-tax profit up 4.7% to £132.2m for the year ended March 31, and expects adjusted 2026/27 profit of £80m to £90m. It attributed this to first-year investment tied to a five-year plan aimed at more than doubling multi-service customers to one million, with a target of £175m investment by 2031. Bunzl, a packing and business supplies group, boosted annual guidance following an “encouraging” start, citing revenue growth of around 4% on a constant-currency basis in six months ended June 30. Separately, Unite Group said CPPIB Holdco cut its stake to 7%, prompting a board departure, Thomas Jackson.