H1 results show a limited impact from the pandemic with revenue down just 9%, although 1H19 was weak too due to last year’s wet weather conditions. Finances remain robust and cash increased by $3.7m in the period to $27.5m. New products are expected to have a stronger impact on H2. Post-lockdown, trading is in the process of normalising and management feels sufficiently comfortable to resume dividend payments and guidance. As such, we introduce reworked FY20 forecasts and a price target
09 Sep 2020
Somero Enterprises - Interim results: trade normalising, dividends resuming
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Somero Enterprises - Interim results: trade normalising, dividends resuming
Somero Enterprises, Inc. (SOM:LON) | 335 0 0.0% | Mkt Cap: 184.7m
- Published:
09 Sep 2020 -
Author:
David Buxton -
Pages:
6
H1 results show a limited impact from the pandemic with revenue down just 9%, although 1H19 was weak too due to last year’s wet weather conditions. Finances remain robust and cash increased by $3.7m in the period to $27.5m. New products are expected to have a stronger impact on H2. Post-lockdown, trading is in the process of normalising and management feels sufficiently comfortable to resume dividend payments and guidance. As such, we introduce reworked FY20 forecasts and a price target