Last checked at 30 Apr 2013 07:00
30 April 2013
Somero Enterprises, Inc ("Somero" or the "Company")
AGM Statement
To coincide with today's Annual General Meeting, Somero today provides an update on current trading.
The outlook for the business remains as reported in our final results announced on 26 February 2013 and the Company is trading in line with market expectations.
Demand for our products continues to be steadily growing versus the comparable periods last year and although macroeconomic recovery continues to be fragile, particularly in Europe, we remain confident the Group will be able to generate revenue growth this year. As previously flagged, we are focused on incremental investment in developing economies to help secure future growth, as well as the recovery in our more mature markets and on innovative product development across our portfolio.
With the Group in the sound financial position of having minimal net debt and ongoing free cash generation, we are pleased to have recommended to shareholders a final dividend of 0.8 US cents per share for the year ended December 2012 and intend to pursue a progressive dividend policy going forward.
For further information, please contact:
Somero Enterprises, Inc Jack Cooney, CEO Mike Niemela, CFO
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Tel: +1 239 210 6507 |
Canaccord Genuity (Nominated Adviser & Broker) Chris Robinson Piers Coombs
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Tel: +44 20 7665 4500 Tel: +44 20 7523 8000
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