Investment Q&A

Yes, but also no. CSU and its subsidiaries have historically not done a lot of marketing, predicting or strategy-relaying. They have let the numbers talk. CSU was famous for never doing conference calls. We are sure the group has some concern about suddenly changing its tact, and 'reacting' to what is (for now) not a fundamental issue. We re-iterate that the financial numbers have not changed (as reported so far). So suddenly changing and providing more info might be seen as 'yes, there is a problem' rather than simply providing information. But much here will depend on Q4 numbers. If they are fine, then all is well. If not, then the companies will have some explaining to do, and at that point may lose credibility if forecasts are weak and/or the pace of M&A activity slows. So it is a fine line here. Complicating things also is the fact that actual forecasting in this environment (with AI moving fast) is likely quite difficult.