Fugro has brought forward its Q3 trading update as it is issuing a €150m convertible bond. Q3 revenue was €474m (-22.4% yoy), slightly better than consensus expectations. The EBIT margin is a mid single-digit (we expected a low single-digit loss in H2). Outlook 2016 confirmed: positive cash flow from operations after capex; further cost reductions;  negative low single-digit EBIT margin but “somewhat better than previously expected”. The proceeds from the convertibl ....