PARIS: Emerging markets have helped rake in a corporate earnings bonanza in recent years, but a sudden plunge in their currencies in mid-2013 due to an expected cut in US stimulus has sorely hit sales and profit.
Quarterly results at companies from Coca-Cola to IBM, Unilever to Casino and luxury group LVMH show that currency volatility has hit the bottom line.
Already a subscriber? Log in
The Star Festive Promo: Get 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
