Somero Enterprises Inc. (DI) (SOM)

Sector:

Engineering

Index:

FTSE AIM All-Share

 548.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 560.00
  • 52 Week Low: 231.00
  • Currency: UK Pounds
  • Shares Issued: 56.12m
  • Volume: 363,761
  • Market Cap: £307.53m
  • RiskGrade: 192

Somero lifts expectations as momentum continues into second half

By Josh White

Date: Thursday 19 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Concrete levelling technology company Somero updated the market on its trading on Thursday, reporting that as a result of positive trading momentum from the end of the first half continuing into the second half of 2020, it now expected to exceed its previous reinstated expectations for the year ending 31 December.
The AIM-traded firm had reinstated its guidance on 9 September, indicating revenues were expected to be around $75m, with adjusted EBITDA of about $19m, and ending net cash approximating $20m.

It said on Thursday that, based on the "strong, profitable" trading and "healthy" cash generation in the second half, it now expected 2020 annual revenues to be around $80m, with adjusted EBITDA coming in at about $21m, and ending net cash of approximately $26m.

"The improved performance has been led by healthy trading in an active US market, strong contributions from new products - particularly the 'SRS-4' and the recently-launched 'Broom+Cure', and an increase in revenues from the SkyScreed family of products due to an easing of job-site restrictions in the second half of 2020," the board said in its statement.

"The strong cash generation in the second half is a direct result of effective working capital management and healthy cash collections.

"Performance in the company's non-US markets, and the remaining products in the company's portfolio, are tracking generally in line with previous expectations."

Somero said it would provide a further update on the 2020 financial year in January, consistent with prior years.

At 1233 GMT, shares in Somero Enterprises were up 22.94% at 284p.

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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 548.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 560.00
52 Week Low 231.00
Volume 363,761
Shares Issued 56.12m
Market Cap £307.53m
RiskGrade 192

SOM Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
74.95% above the market average74.95% above the market average74.95% above the market average74.95% above the market average74.95% above the market average
65.71% above the sector average65.71% above the sector average65.71% above the sector average65.71% above the sector average65.71% above the sector average
Price Trend
92.53% above the market average92.53% above the market average92.53% above the market average92.53% above the market average92.53% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income
72.92% above the market average72.92% above the market average72.92% above the market average72.92% above the market average72.92% above the market average
80.00% above the sector average80.00% above the sector average80.00% above the sector average80.00% above the sector average80.00% above the sector average
Growth
5.71% below the market average5.71% below the market average5.71% below the market average5.71% below the market average5.71% below the market average
27.27% above the sector average27.27% above the sector average27.27% above the sector average27.27% above the sector average27.27% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
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 23-Sep-21 08-Apr-21
Paid 22-Oct-21 30-Apr-21
Amount 9.00¢ 12.81¢

Trades for 21-Sep-2021

Time Volume / Share Price
12:19 35,000 @ 545.00p
12:19 35,000 @ 545.00p
12:12 50,000 @ 545.00p
12:12 50,000 @ 545.00p
16:35 135 @ 548.00p

SOM Key Personnel

CEO Jack Cooney
CFO John Yuncza

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