In a trading update, Somero (SOM) said it expects 2017 revenues to be “slightly ahead” of market expectations of $87.4m (£63.4m), and cash profits to be “comfortably ahead” of the consensus $26m. This was enabled by volume increases and cost management. Shares in the concrete levelling specialist rose 7 per cent on the news.
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Net cash also improved to at least $18.5m, above market expectations of $16.5m. Somero has continued expanding geographically, with second-half trading in four of the company’s six regions growing year on year. This was driven by North America, Europe and the Rest of World segments.
