Half-year results came in broadly in line with our expectations, which we had lowered on the signalled poor weather in the US and lower European and Middle Eastern sales prior to the period-end. While the US is improving, the Middle East is not expected to make up its shortfall by the year-end and European demand is being watched closely. Guidance is for revenues in the range of $83-87m, broadly in line with expectations, with some potential H2 risks emerging. We therefore take a more prudent
04 Sep 2019
Somero Enterprises - Interim results – US recovers but EU and Middle East dip
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Somero Enterprises - Interim results – US recovers but EU and Middle East dip
Somero Enterprises, Inc. (SOM:LON) | 340 0 0.0% | Mkt Cap: 188.4m
- Published:
04 Sep 2019 -
Author:
David Buxton -
Pages:
8
Half-year results came in broadly in line with our expectations, which we had lowered on the signalled poor weather in the US and lower European and Middle Eastern sales prior to the period-end. While the US is improving, the Middle East is not expected to make up its shortfall by the year-end and European demand is being watched closely. Guidance is for revenues in the range of $83-87m, broadly in line with expectations, with some potential H2 risks emerging. We therefore take a more prudent