Samuel Frost Dindol's questions to BUNZL (BZLFY) leadership • Q3 2020
Question
Samuel Frost Dindol of Stifel Financial Corp. asked about the gross margin differential between the top 8 COVID-related products and the rest of the portfolio. He also inquired if the own-brand margin advantage was still in the mid-20s.
Answer
CEO & Executive Director Frank van Zanten declined to provide specific figures but confirmed a clear, higher margin on own-brand imported items, which is driving a positive margin mix. CFO & Director Richard Howes added that the own-brand sales mix, typically around 20%, was higher at the half-year and is expected to remain elevated for the rest of 2020 before normalizing.