Just one more week of the annual earnings season looms before the management one-on-ones with fund managers kick-off, giving investors a chance to dig through the detail and then virtually meet company executives, pandemic-style.

Lockdowns in NSW and Victoria mean that COVID-related issues – everything from staffing shortages, supply chain pressures and foggy profit outlooks – have loomed large, often obscuring what has been a bumper profit season, complete with buybacks, M&A deals and strong dividends, across the board.