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The economic turbulence over the last two years has impacted the revenue and asset values of many organisations – and, as a consequence, their capital flexibility. For many companies, the 2009 year-end was the first time their financial reporting had to reflect a full year of the business in recession. Market watchers predicted further reductions in valuations, as issuers continued to reduce costs and adjust their business forecasts.
Signs of recovery are emerging in several sectors and countries, but as we move to half-year reporting, uncertainty remains.
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