Somero Enterprises Inc. (SOM.L), in its trading update, said its board believed that overall results for the current year are likely to be ahead of current market expectations.
The company noted that Group revenue growth in the first half of the current year is on track to be around 25% ahead of the comparable period last year and with gross margins of just over 50%, EBITDA is also expected to show good growth in first half.
"With the benefit of the steady recovery the Company is experiencing, the Group is in a good position to invest in certain incremental sales and personnel costs to help drive growth in the medium and longer term. This is expected to have some impact on our reported net operating margin in the second-half of the period, so may lead to a greater proportion of the Company's overall profitability in the current financial year being reported in first half of the current year," the company said.
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