20th Jan 2015 09:12
LONDON (Alliance News) - Somero Enterprises Inc on Tuesday said it expects its full-year earnings to be slightly ahead of market expectations following strong sales at the end of 2014.
The company, which makes precision concrete levelling and placing equipment, said it expects its earnings before income, taxation, depreciation and amortisation to come in slightly ahead of market forecasts, following a strong trading performance in December.
The group said it has seen continued strong demand across its product range and said new product launches contributed significantly to its trading.
It said second-half growth was driven by strong performances in its North America, China, South East Asia, Latin American, South American and European businesses.
Somero expects further growth in 2015, based on the strong trading in the second half.
It added it is in talks to buy the freehold on its headquarters in Florida for an estimated USD2.2 million, which it expects to bring down its cost base.
Somero shares were up 2.6% to 123.0737 pence on Tuesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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