8th Sep 2015 09:01
LONDON (Alliance News) - Somero Enterprises Inc Tuesday reported a rise in pretax profit in the first half of 2015, boosted by sales growth in its main operating regions, and said it is encouraged by trading so far in the second half of the year.
Somero, which makes laser-guided equipment for concrete placing and levelling, said its pretax profit in the six months ended June 30 rose by more than a quarter to USD8.2 million from USD6.4 million, as its revenue grew 20% to USD35.3 million from USD29.5 million.
Somero said that sales were boosted by growth in its main regions, particularly in North America and the Middle East, which offset a sluggish performance in Russia and India. It said it is also encouraged by improved activity in Europe, and expects to see growth in Latin America in the remainder of the year.
Somero will pay an interim dividend of 1.9 cents.
"We remain encouraged by trading early in the second half of 2015 and will continue to invest selectively in measures aimed at supporting growth into the medium and longer term. The board is confident Somero will deliver another strong performance this year in line with latest market expectations," Chief Executive Jack Cooney said in a statement.
Shares in Somero were trading up 1.7% at 140.90 pence Tuesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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