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 raises FY guidance following 'stronger than anticipated' end to H1

By Iain Gilbert

Date: Wednesday 07 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Laser-guided equipment manufacturer Somero Enterprises has raised its full-year guidance due to "stronger than anticipated" trading in the US towards the end of the first half.
Somero previously guided towards revenues of approximately $100.0m, adjusted underlying earnings of roughly $31.0m, while net cash was predicted to "improve consequentially" from its original target of $27.4m.

However, the AIM-listed group said on Wednesday that it now expects full-year 2021 annual revenues to be approximately $110.0m, adjusted EBITDA to be in the vicinity of $35.0m, and year-end net cash to exceed $33.0m.

Somero said first-half trading had been "stronger than previous years", with trading in North America in the last two months of the period exceeding expectations.

"This higher than anticipated momentum is carrying over to begin H2 2021, with customer workloads at high levels and project backlogs extending into 2022," said Somero.

Somero added this was due in part to it catching up on projects previously slowed by Covid-19 restrictions and was also supported by "a healthy and active" US non-residential construction market.

Trading in Europe and Australia was in line with expectations for "meaningful contributions to growth from both regions", while all other regions performed "as expected".

As of 1100 BST, Somero shares were up 12.17% at 487.95p.

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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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