Ann: May Trading Update - Another Strong Month During Covid, page-57

Not sure if this has already been mentioned, I don't have time to read through all the comments but your projections are completely flawed.

Banks and other credit providers are 2 months into COVID-19 and most of the loans that will go bad would have been picked up over the last 2 months, including May, hence the increase in bad debt charges.

You can't just simply assume that this increase will continue month on month, because people who are in financial difficulty simply won't make purchases.

In this environment I don't think you should be making simple projections like this, especially when you are using 2 data points. This goes for both bad debt and transactions. For crying out loud, your 12 month transaction increase doesn't even consider that transactions jump later in the year, especially closer to Christmas.

With the upmost respect, please refrain from making any of these projections. Ever.