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    Andrew Charles Grobler

    Research Analyst at Crédit Suisse Group AG

    Andrew Charles Grobler is an Analyst at Crédit Suisse Group AG, specializing in equity research and known for his in-depth coverage of companies such as Bunzl PLC. His expertise centers on analyzing trends and financial performance in publicly listed businesses within the UK and European markets. With several years of experience at Crédit Suisse, Grobler regularly participates in earnings calls and provides critical input to investment strategy, drawing on a solid analytical background developed during his tenure at the firm. He maintains a reputable presence in institutional research, supporting investor decisions with insight-driven analysis.

    Andrew Charles Grobler's questions to BUNZL (BZLFY) leadership

    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.

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