Somero Enterprises Inc (GB:SOM) has released an update.
Somero Enterprises Inc. reported a decline in H1 2024 revenues to $51.8 million, a 12% decrease from the previous year, with significant impacts from North American market challenges and adverse weather in Australia. The company launched two new products, including their first electric powered laser screed, and remains focused on operational efficiency and long-term growth despite a 32% drop in profits before tax. Somero expects a stronger second half of 2024, with confidence in the resilience of non-residential construction markets and ongoing product innovation.
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