Somero maintains expectations despite some market uncertainty

(Sharecast News) - Somero Enterprises said in an update on Tuesday that it still expected full-year revenue, profitability and cash generation to meet the revised guidance it issued in April, as market conditions remained stable heading into the second half of the year. Ahead of its annual general meeting on 18 June, the concrete levelling equipment manufacturer noted that non-residential construction activity remained steady, supported by strong bidding levels and healthy project backlogs.

However, broader economic uncertainty was continuing to influence project timelines and capital investment decisions.

Somero said it anticipated a seasonal uplift in trading in the second half, with further support from new product contributions.

The company said it would release a detailed trading update for the first half of 2025 in July.

At 1027 BST, shares in Somero Enterprises were down 0.65% at 244.4p.

Reporting by Josh White for Sharecast.com.