Analyst Research Report Snapshot

Title:

EMPRESARIA - IMPROVING SENTIMENT

Price:

$10.00

Provider:

Edison Investment Research

Date:

25 Jan 2010

Pages:

8

Type:

AcrobatPDF

Companies referenced:

EMPR.L

Available for Immediate Download
Summary:

The trading update has reassured the market, with Empresaria’s preliminary results likely to come in broadly in line with expectations. Although December was ahead of forecast and activity levels in January are good, we are reluctant to extrapolate faster recovery in the more mature markets at this stage. The inherent operational gearing, exaggerated by the lower cost base, should nevertheless give a strong uplift in earnings in the current year. The share price is 50% above the price when the sector bottomed last March, less than the gains of the larger peers. FOR MORE INFORMATION ON THE ATTACHED RESEARCH PLEASE CALL 020 3077 5700, EMAIL RESEARCH@EDISONINVESTMENTRESEARCH.CO.UK OR VISIT WWW.EDISONINVESTMENTRESEARCH.CO.UK

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