Escalating US inflation (3.3%) driven by the Iran War could increase Ennis's operational costs for raw materials, manufacturing, and logistics, potentially compressing profit margins.

Central banks maintaining 'Higher for Longer' interest rates due to persistent inflation may dampen overall economic activity, leading to reduced demand for business products and increased borrowing costs for Ennis and its customers.

Continued oil price volatility from the Strait of Hormuz closure will directly impact Ennis's transportation expenses for its widespread distribution network and supply chain, further pressuring profitability.