Somero Enterprises (AIM:SOM) – making concrete levelling look exciting
The US based designer of laser-guided equipment that automates the process of spreading, levelling and contouring volumes of concrete for commercial flooring has announced stunning interim results for the six months ended June 30, 2015, with slower progress in China the one disappointment.
Somero’s products have been sold to concrete contractors for non-residential construction projects in 93 countries in the construction of warehouses, assembly plants, retail centres, and other commercial construction projects that require extremely flat concrete-slab floors. For the 6 months to 30th June revenue increased 20% to US$ 35.3m, pre-tax income increased 28% to US$ 8.2m and basic EPS grew 22% to US$ 0.11. The growth was primarily through the North America heartland which saw a 27% increase in revenues to US$ 24.1m. Sales in EMEA increased 25% compared to H1 2014 led by the Middle East which grew to US$…