3rd Sep 2013 11:52
LONDON (Alliance News) - Somero Enterprises Inc. said Tuesday its pretax profits and revenues jumped in the first half as it saw recovery in its markets. The concrete-flooring specialist said it is heading for full-year results ahead of expectation.
For the six months ended June 30, Somero posted pretax profit of USD1.9 million, up from USD906,000 a year earlier. Revenues jumped up to USD20.9 million from USD16.1 million in the previous year.
The group, which returned to the list of dividend payers in February with a 0.8 cent full-year dividend in February, Tuesday declared an interim dividend to 0.9 cents per share.
The company warned that that continued investments in sales and personnel would have some impact on its recorded net operating margin in the second half of the financial year, but it still expects its earnings before interest, tax, deductions and amortisation to be around 15% ahead of its previous expectations.
Somero manufactures and sells equipment to spread and level concrete for flooring and horizontal surfaces. Its shares were trading up 6.7% at 72.00 pence Tuesday midday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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