Trading update
August 17 2010 - 1:00AM
UK Regulatory
TIDMSOM
RNS Number : 1615R
Somero Enterprises Inc.
17 August 2010
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| PRESS ANNOUNCEMENT |
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| |
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| 17 August 2010 | |
| | |
+--------------------------------------------+--------------------+
| Somero Enterprises, Inc |
| |
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| Pre-close trading update |
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| Somero Enterprises, Inc ("Somero" or the "Company"), 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 trading for the half year to 30 June 2010 was in |
| line with its expectations, and that all banking covenants were |
| passed at the half year. |
| |
| The Company continues to focus on cost reduction and control |
| while continuing to invest in emerging market opportunities and |
| new product development. Sales of refurbished Large and Small |
| line equipment were significantly ahead of expectations across |
| all regions. This is an early stage indicator of economic |
| recovery within emerging markets and a positive indication of |
| the acceptance of our technology in those geographies. |
| |
| Jack Cooney, CEO of Somero, commented: |
| "We are pleased with the Company's first half performance. |
| Although the Company experienced only modest growth over the |
| period in North America and Europe, we are encouraged by some |
| early signs of improving market conditions in the emerging |
| markets where we continue to make good progress. |
| |
| Looking forward, we hope to continue to expand on our |
| investment in the emerging markets and in new product |
| development." |
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| |
| Somero will report half year results in mid September 2010. |
| |
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| Enquiries: | |
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| | |
+-------------------------------+---------------------------------+
| Hawkpoint Partners Limited | +44 (0)20 7665 4500 |
+-------------------------------+---------------------------------+
| Chris Robinson / Serge Rissi | |
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| | |
+-------------------------------+---------------------------------+
| Collins Stewart plc | +44 (0)20 7523 8000 |
+-------------------------------+---------------------------------+
| Piers Coombs | |
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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