Mar 21st 2013 - Edison Investment Research today published a report on Empresaria (EMR.L, LSE:EMR, LON:EMR) entitled "Firmer Foundations". In summary, the report says:
Empresaria’s figures show the group aligned for improving performance despite market volatility, with encouraging progress in ‘Rest of World’ and firmer foundations across the group. The reduction in net fee income (NFI) primarily reflects the downturn in trading in Germany, now restructured and benefiting from a 15% reduction in cost base. The share price has started to recover, but the valuation remains at a marked discount to the sector, a position that we expect will correct as the company’s record for delivering on expectations rebuilds.
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