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Liberum note out this morning on Research Tree: "Despite a weaker than expected performance in the permanent business and the US, 1H16 gross profit was broadly in line with our expectations. This result reflects the continued strength of Continental Europe, where gross profit was up 18% y/y. Although we believe that majority of the issues in the US are transitory, the continued weakness in Banking and Finance, alongside uncertainties in the UK associated with Brexit, lead us to err on the side of caution and trim our FY16 EPS estimates by 1%."
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