The group has announced a further positive trading update ahead of its December year end, with robust trading in North America by strong demand for new warehousing, with European and Australian operations also seeing strong conditions. As a result, it is raising its FY21 revenue guidance by 8%, with EBITDA raised 7.2%. It also has increased its year-end cash balance to $39.0m, which boosts dividend prospects. We upgrade our forecasts in line with guidance and also increase our FY22 dividend by 8 ....
07 Dec 2021
Somero Enterprises - Trading update – strong Q4: raised FY guidance
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Somero Enterprises - Trading update – strong Q4: raised FY guidance
Somero Enterprises, Inc. (SOM:LON) | 335 0 0.0% | Mkt Cap: 184.8m
- Published:
07 Dec 2021 -
Author:
David Buxton -
Pages:
5
The group has announced a further positive trading update ahead of its December year end, with robust trading in North America by strong demand for new warehousing, with European and Australian operations also seeing strong conditions. As a result, it is raising its FY21 revenue guidance by 8%, with EBITDA raised 7.2%. It also has increased its year-end cash balance to $39.0m, which boosts dividend prospects. We upgrade our forecasts in line with guidance and also increase our FY22 dividend by 8 ....