Absolute Stock Manipulation, page-53

I find it odd people are touting another downgrade when it’s been 5 weeks since year end. In actual fact they hit their revised guidance for the first half.

if anything the recent COVID outbreaks in Au and China would increase sales due to pantry stocking so I expect this has flushed out inventory too.

the recent strengthening in pricing for the diagou and cbec is a sign margins have recovered too.

I expect a cautious outlook but no specific guidance given we can’t expect borders to open until at least the second half of FY22.

just an fyi I’ve been informed that roughly 50% of people in China have been vaccinated so let’s hope this gives confidence in opening our doors to students by next year (and tourists if possible).