Andrew Charles Grobler's questions to BUNZL (BZLFY) leadership • Q3 2020
Question
Andrew Charles Grobler from Crédit Suisse Group AG asked for details on regional and end-market growth variations in the quarter. He also questioned the status of the $20 million bad debt provision from H1, given the strong performance.
Answer
CFO & Director Richard Howes explained that regional performance is driven by the end-sector mix, with markets having higher retail and foodservice components performing better in Q3 as they reopened. He noted the base business recovery was broad-based. On bad debt, he stated the provision was based on an expected withdrawal of government support which has been delayed, potentially pushing the issue into 2021. No material bankruptcies were seen in August or September.