Ann: Full Year Statutory Accounts - 30 June 2020, page-2

That result could have been anything given the prevailing circumstances.

As it is, "clean" [*] EBIT of $80.2m was better than the $75m figure I had guessed/anticipated.

For context, while full-year EBIT is down by some 10% on FY2019, second-half EBIT of $36m, down 19%.

EBIT by halves ($m):
DH2018:  43.5
JH2019:  44.7
DH2019: 44.5  (+2% on pcp)
Jh2020: 36.2 (-19% on pcp)

Given the sheer absence of any precedent period to compare with the extraordinary past 6 months, I'm not sure if that is the sort of outcome that can be described as resilient under the circumstance.

I like to think it is given I was expecting worse, but then again, my expectation was derived from almost zero analytical rigour.

And I have a suspicion that it might end up being one of the better results by the time this reporting season is done.  


[*] To the extent that one can decipher what is a very messy result to arrive at that figure