Somero Enterprises Inc. (DI) (SOM)

Sector:

Engineering

Index:

FTSE AIM All-Share

198.50p
   
  • Change Today:
      2.00p
  • 52 Week High: 390.00
  • 52 Week Low: 185.00
  • Currency: UK Pounds
  • Shares Issued: 56.35m
  • Volume: 35,973
  • Market Cap: £111.85m
  • RiskGrade: 244
  • Beta: 0.04

Somero bags 'record' results after North America success

By Duncan Ferris

Date: Wednesday 13 Mar 2019

LONDON (ShareCast) - (Sharecast News) - Somero Enterprises rewarded shareholders with a 23% increase in its total dividend as sales in North America accelerated to boost the concrete installation technology specialist's profits and revenues.
For the year ended 31 December, profit before tax increased 13% to $29.1m, on revenue up 10% to $94.0m.

Chief executive Jack Cooney said: "2018 was a record year for Somero by all measures. We delivered record revenues of $94.0m, comfortably surpassing the five-year strategic target we set out in 2014 to reach $90.0m in revenue by 2018. These revenues translated to record profits and cash flow from operations and allowed for the return of a significant amount of cash to shareholders in the period."

Sales in North America, the AIM-listed company's largest market, grew 12% to reach $64.7m as a high-level of non-residential construction activity, along with a shortage of skilled labour, increased demand for Somero equipment and led to strong second-half trading in which sales grew 16% compared to the same six-month period the year before.

Meanwhile, sales were also "particularly strong" in the 'Rest of the World' after strong demand from Australia and India led to 36% growth to reach $6.4m.

The company had cash and cash equivalents of $28.2m at 31 December, up from $19.0m at the same point the year before, while the full year regular dividend payment to shareholders of 19.0 US cents per share, up 23% over the year before.

"Somero begins 2019 financially stronger than ever and well-positioned to capture growth in new and existing markets with a strong product offering. With the opportunities that lie ahead and the steps we have taken to position the company for the future, I am confident the company will deliver strong results and dividends for our shareholders," said Cooney.

Somero Enterprises' share price was up 3.38% at 387.66p at 1044 GMT.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

SOM Market Data

Currency UK Pounds
Share Price 198.50p
Change Today 2.00p
% Change 1.02 %
52 Week High 390.00
52 Week Low 185.00
Volume 35,973
Shares Issued 56.35m
Market Cap £111.85m
Beta 0.04
RiskGrade 244

SOM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
69.97% above the market average69.97% above the market average69.97% above the market average69.97% above the market average69.97% above the market average
89.47% above the sector average89.47% above the sector average89.47% above the sector average89.47% above the sector average89.47% above the sector average
Price Trend
76.25% below the market average76.25% below the market average76.25% below the market average76.25% below the market average76.25% below the market average
75.61% below the sector average75.61% below the sector average75.61% below the sector average75.61% below the sector average75.61% below the sector average
Income
95.08% above the market average95.08% above the market average95.08% above the market average95.08% above the market average95.08% above the market average
91.67% above the sector average91.67% above the sector average91.67% above the sector average91.67% above the sector average91.67% above the sector average
Growth
41.76% above the market average41.76% above the market average41.76% above the market average41.76% above the market average41.76% above the market average
Sector averageSector averageSector averageSector averageSector average

What The Brokers Say

Strong Buy 0
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 1
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SOM Dividends

  Latest Previous
  Interim Final
Ex-Div 26-Sep-19 04-Apr-19
Paid 17-Oct-19 26-Apr-19
Amount 5.75¢ 13.50¢

Trades for 22-Oct-2019

Time Volume / Share Price
08:41 100,000 @ 197.00p
08:41 87,000 @ 198.00p
16:28 1,504 @ 199.75p
16:12 1,777 @ 196.55p
15:01 47 @ 199.80p

SOM Key Personnel

CEO Jack Cooney
CFO John Yuncza

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