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Somero - Eps upgraded 15%

June 2021

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:
  • 470p
The shares jumped after Somero lifted sales guidance 7% to c. US$100m with EBITDA upped 14% to US$31m. A similar improvement in net cash is expected.In the US there was strong take-up across the product range, particularly for boomed screeds driven by demand for new warehousing. New products launched in 2020, such as the SRS-4, the Broom + Cure and SkyScreed 36 are expected to provide a meaningful contribution to FY21 growth, while in April it launched the SkyStrip, designed to automate the process of stripping plywood sheets from shoring, which commonly causes injuries and lost labour time. With the product pipeline also strong further launches are expected later this year. There have been signs of a recovery in Europe and Austral ...

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