3 Jan 2013 16:06
3 January 2013
Somero Enterprises, Inc ("Somero" or the "Company")
Trading Update
The strong trading environment Somero experienced earlier in 2012 has continued and the Company ended the year with a good performance in December. As a result, reported results for the year to 31 December 2012 are likely to be substantially ahead of current market expectations.
North America has continued to show strong growth in the second half, benefitting from continued growth in the commercial construction industry, the acceptance of the Company's new product, the S-840, and fleet replacement and expansion of large line equipment. Performance during the second half also benefitted from the Chinese business which remained strong reflecting Somero's investment in the region, and Russia which underwent substantial growth during the period resulting from a new in-country sales organization and acceptance of the S-840.
It is anticipated that the Company's preliminary results for the year ended 31 December 2012 will be published in mid-March 2013.
For further information, please contact:
Somero Enterprises, Inc Jack Cooney, CEO Mike Niemela, CFO
| Tel: +1 239 210 6507 |
Canaccord Genuity Hawkpoint (Nominated Adviser) Chris Robinson
| Tel: +44 20 7665 4500 |
Canaccord Genuity Limited (Broker) Piers Coombs Seb Jones | Tel: +44 20 7523 8000 |
Somero (SOM)