Katherine Somerville's questions to BUNZL (BZLFY) leadership • Q3 2020
Question
Katherine Somerville from UBS Group AG requested color on the revenue growth run-rate through the months of Q3. She also asked if margins on COVID-related orders were maintained from Q2 and if there was a margin difference between large and small orders.
Answer
CFO & Director Richard Howes noted that large orders tailed off through the quarter as expected, while August and September were better than anticipated. He did not provide specific margin figures but highlighted that larger orders carry a degree of operational leverage, implying a higher margin. He also cautioned about the potential negative margin impact from new lockdowns in Q4.