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Somero Enterprises Inc
- BY: Andrew Hore |
- POSTED: 21/08/2012 |
Somero Enterprises Inc moved back into profit in the first half of 2012.
US-based Somero supplies laser concrete screening equipment that is used to ensure that the concrete floors of warehouses and other buildings are flat. Revenues jumped from $10.4m to $16.1m in the six months to June 2012 as North American revenues more than doubled. Higher usage means that parts sales rose 40%. Sales in emerging markets were flat but sales in China grow 155%. Sales declined in Korea, Australia and Latin America.
A loss of $1.51m was turned into a pre-tax profit of $906,000 with the higher sales generating enough profit to more than cover increases in overhead.
Net debt has fallen from $4.7m to $2.9m in the past six months.
At 25.5p a share, up 1.25p, Somero is valued at £14.4m.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJuly2012_34.pdf
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