www.ubs.com/investmentresearchThisreporthasbeenpreparedbyUBSSecuritiesAustraliaLtd.ANALYSTCERTIFICATIONANDREQUIREDDISCLOSURESBEGINONPAGE25.UBSdoesandseekstodobusinesswithcompaniescoveredinitsresearchreports.Asaresult,investorsshouldbeawarethatthefirmmayhaveaconflictofinterestthatcouldaffecttheobjectivityofthisreport.Investorsshouldconsiderthisreportasonlyasinglefactorinmakingtheirinvestmentdecision.GlobalResearch5March2020AustralianConsumerSector1H20consumerresultsseasonawrap.Whatarethekeythemesandopportunitiespost?1H20Consumerreportingseasondrawstoanend:Whatdidwelearn?1H20resultsweremixed:EPSwascutfor~65%ofcompaniescoveredand~47%under-performedtheASX...