EML Chart, page-942

https://www.cnbc.com/2022/02/03/bank-of-england-hikes-rates-in-first-back-to-back-rise-since-2004.html

An $800k per quarter headwind ($3.2m annual hit to profit) is turning around very quickly

In the last Qtrly update they advised that this will reverse in the second half but based on how quickly central banks are raising rates there will be more upside sooner. With 2 interest rate rises & more to follow it will turn into a $6m+ increase in EBIT going forward into FY23 and likely $9m-$12m+ depending on how many rises US and UK undertake

Ron is a long term backer of EML and has also written about this recently and impact in medium term - https://unauthorised investment advice/experts/moneytalks-heres-ron-shamgar-with-3-stocks-that-could-benefit-from-higher-inflation-and-interest-rates-this-year/