James Steven Rosenthal's questions to BUNZL (BZLFY) leadership • Q3 2020
Question
James Steven Rosenthal of Barclays PLC asked if the emerging 'mini lockdowns' were significant enough to disrupt the sequential improvement seen in the base business from Q2 to Q3.
Answer
CFO & Director Richard Howes responded that it is fair to assume Q4 activity will be lower than Q3. He explained that Q3 benefited from summer reopenings, whereas Q4 is facing more lockdowns. Consequently, he expects the base business performance in Q4 to be 'some way off' the level seen in Q3.