14th Jul 2008 07:00
14 July 2008
Somero Enterprises, Inc ®
("Somero" or "the Group")
Period-End Trading Update
Somero Enterprises, Inc ®, the North American manufacturer of patented laser guided equipment used for the spreading and levelling of high volumes of concrete for floors in the construction industry, is pleased to confirm that, during the first half, progress towards the revised revenue and earnings targets set following the Group's trading statement on 15 May 2008 has continued well. As a result, we expect the Group's net debt position to have reduced by US$2m during the first half of 2008.
Jack Cooney, Somero Chief Executive Officer commented:
"We are pleased with the progress made in Group sales since our trading update in May and are happy to report that our new executive offices and Somero sales college in Florida are now fully operational. We remain of the view that the strategies in place within our business will result in continued long term growth for Somero."
Somero looks forward to reporting Interim Results for the six months ended 30 June 2008 on 9 September.
For further information please contact:
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Financial Dynamics |
+44 (0)20 7831 3113 |
|
Harriet Keen / Matt Dixon / Erwan Gouraud |
|
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Hawkpoint Partners Limited |
+44 (0)20 7665 4500 |
|
Christopher Kemball / Chris Robinson |
|
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Collins Stewart |
+44 (0)20 7523 8000 |
|
Nick Ellis |
ENDS
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