Good morning,
Today we have news from:
Somero Enterprises Inc (LON:SOM) – interim resultsAlpha FX (LON:AFX) – interim reportQUIZ (LON:QUIZ) – AGM trading updateCambria Automobiles (LON:CAMB) – trading updateFrontier Developments (LON:FDEV)
Somero Enterprises Inc (LON:SOM)
Share price: 232p (-17%)No. of shares: 56 millionMarket cap: £131 millionInterim Results
These are difficult times for investors, and it’s unfortunate to see another private investor favourite which has started to struggle.
Somero makes concrete-levelling equipement and sells it worldwide. We already knew that it had a disappointing H1, after a major profit warning in June.
Unfortunately, the negative trends in trading appears to have spread internationally.
In June, Somero reduced its full-year revenue forecast to $87 million.
Today, it reduces this forecast further, to $83 million – $87 million. The broker Finncap is using $84 million as its central estimate. Revenues last year were $94 million.
What’s gone wrong?
The profit warning in June was based on poor…
Disclaimer: Please note all prices are for information only, they should not be relied upon for accuracy or trading. All prices quotes are based on CFD prices and are similar though not always identical to real exchange prices. STOCKTRKR or anybody connected with STOCKTRKR will not accept any liability for loss or damage arising from use of any information/commentary/charts or articles which is provided 'as is' for educational purposes only, nothing contained on this website should be considered as investment advice - please seek proper investment advice from registered financial broker or institution if you wish to trade on global markets and ensure you are familiar with the risks.
