Messy FY20 financials will hold far less meaning this August, with management outlook commentary instead likely to draw intense focus. We see the provision of formal FY21 guidance as far less likely this year due to economic/consumer spending uncertainty related to COVID-19 and the possible phase out of fiscal stimulus during 1H21. We flag caution overall, but volatility does continue to create tactical money-making opportunities for nimble investors, which is the focus of our previews reports below. Watch Andrew Tang, Equity Strategist, for more detail.