6th Sep 2016 08:53
LONDON (Alliance News) - Floor-laying machinery manufacturer Somero Enterprises Inc on Tuesday reported growth in profit in the first half of 2016, boosted by good revenue growth in its core markets, and said it expects to achieve full-year results in line with market expectations.
Somero said pretax profit grew to USD10.4 million in the six months ended June 30 from USD8.2 million the year before, as revenue rose to USD39.7 million from USD35.3 million.
Somero said it achieved broad-based geographic growth, led by its core markets of North America, Europe and China and by strong demand for new products.
Somero will pay an interim dividend of 2.5 cents, which is a 32% increase year-on-year.
"Due to the solid first-half 2016 results and continued healthy trading environment, the board expects another successful year of growth in line with current market expectations," Chief Executive Jack Cooney said in a statement.
Shares in Somero were trading up 1.5% at 168.00 pence on Tuesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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