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Somero - Trading ahead of expectations

January 2022

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • SOM
  • Price:
  • 532p
The shares soared 60p to 535p after Somero upgraded full year guidance with revenues hiked 8% to US$130m and EBITDA by 7% to US$45m. Net cash expectations are lifted US$3m to US$39m, suggesting another special dividend is likely.The business, a seller of equipment to automate the process of spreading and levelling concrete for commercial flooring, highlighted particularly strong demand in North America, its largest market, albeit with healthy contributions from Europe and Australia.Somero’s gains are coming partly thanks to contractor backlogs but also demand for new warehousing (which need flat floors to facilitate higher shelving and to allow forklifts to zoom around more quickly). New warehousing demand is in turn dr ...

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