Q3 underlying revenues at CER were down 5%. A weaker events performance has been offset by some timing benefits in the subscriptions businesses that are expected to reverse in Q4. Energy delegate revenues took a dive in June as Investment Banks have reigned in training activity as a response to the continuing weakness in the energy market. Delegate revenues due to training weakness and likely to continue. Q4 outlook trends look weak vs a strong prior year comp. Overall we expect PBT expectations ....
