Companies not Markets

“The premiumization continues in the US market, the more you go up the ladder, the stronger the growth… For China… there is a clear improvement versus fiscal year 2016… Last year, we posted 9% decline in China. This improvement is clearly driven by Martell, up 10% with ... all of the range growing,”

Alexandre Ricard, CEO Pernod Ricard

“Our largest market, the U.S., returned to growth and we saw double-digit growth in emerging markets. Globally, consumer and transportation were our strongest verticals. Oil and gas and mining remained our weakest verticals but have now been stable sequentially for several quarters…Recent projections continue to call for improving GDP and industrial production growth rates as well as higher levels of local capital expenditures”

Blake Moret, CEO Rockwell Automation

We have said for the past several months that our discussions with the managements of the companies we are invested in and our analysis of their operations and financials make us constructive about their prospects for this year, despite the arguable length of the recovery and the political uncertainties.

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