Interim results show a resilient performance, with price increases offsetting cost inflation. Three of the group’s five regions saw growth. North American operations remained robust, with strong momentum continuing in Australia, while new products contributed $3.2m to growth. The Board confirms existing guidance and as such is on track to be in line with our forecasts for FY22. We retain our 808p price target, with the sterling valuation assisted by recent dollar strength.
07 Sep 2022
Somero Enterprises - Interim results – trading in line with FY22 expectations
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Somero Enterprises - Interim results – trading in line with FY22 expectations
Somero Enterprises, Inc. (SOM:LON) | 335 0 0.0% | Mkt Cap: 184.8m
- Published:
07 Sep 2022 -
Author:
David Buxton -
Pages:
9
Interim results show a resilient performance, with price increases offsetting cost inflation. Three of the group’s five regions saw growth. North American operations remained robust, with strong momentum continuing in Australia, while new products contributed $3.2m to growth. The Board confirms existing guidance and as such is on track to be in line with our forecasts for FY22. We retain our 808p price target, with the sterling valuation assisted by recent dollar strength.