Emerging markets and commodities have been weak since November. ERM is heavily exposed to emerging markets and also to commodities. We believe this will add to already weak demand and we lower our organic revenue assumptions. The strength of the US$ however provides a material offset and our forecasts move only modestly. While this disguises the pressure in the short term we remain concerned about the headwind. The 9th March strategy update is going to be critical. If ERM doesn’t set a course th ....
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Move to SELL ahead of trading update (28 January)
- Published:
27 Jan 2016 -
Author:
Johnathan Barrett -
Pages:
8
Emerging markets and commodities have been weak since November. ERM is heavily exposed to emerging markets and also to commodities. We believe this will add to already weak demand and we lower our organic revenue assumptions. The strength of the US$ however provides a material offset and our forecasts move only modestly. While this disguises the pressure in the short term we remain concerned about the headwind. The 9th March strategy update is going to be critical. If ERM doesn’t set a course th ....