The group’s year-end update points to stronger than expected Q4 trading, boosted by robust sales in North America that translated efficiently to upside on profitability expectations. Cash performance has once again been stellar, resulting in net cash of $35m, considerably higher than forecast, partly profit drop-through and partly from tight working capital management. We are therefore upgrading our FY 2020 EPS by 25% to 33.2ȼ. The strong cash position also results in a boost to the total divide ....
21 Jan 2021
Somero Enterprises - Strong Q4, robust cash performance
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Somero Enterprises - Strong Q4, robust cash performance
Somero Enterprises, Inc. (SOM:LON) | 335 0 0.0% | Mkt Cap: 184.7m
- Published:
21 Jan 2021 -
Author:
David Buxton -
Pages:
5
The group’s year-end update points to stronger than expected Q4 trading, boosted by robust sales in North America that translated efficiently to upside on profitability expectations. Cash performance has once again been stellar, resulting in net cash of $35m, considerably higher than forecast, partly profit drop-through and partly from tight working capital management. We are therefore upgrading our FY 2020 EPS by 25% to 33.2ȼ. The strong cash position also results in a boost to the total divide ....