Ferronordic Machines Q3: Russia turning?

Ferronordic Machines is a Volvo construction equipment dealer in Russia and part of my emerging (demerging?) market portfolio. It reported its Q3 results yesterday. The report was the first time the management said anything positive about Ferronordic's market or prospects. The news was that utilization of the construction equipment fleet among Ferronordic's customers is rising, which …