Trading update

 

TIDMSOM 
 
RNS Number : 1615R 
Somero Enterprises Inc. 
17 August 2010 
 
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| PRESS ANNOUNCEMENT                                              | 
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|                                                                 | 
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| 17 August 2010                             |                    | 
|                                            |                    | 
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| Somero Enterprises, Inc                                         | 
|                                                                 | 
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| Pre-close trading update                                        | 
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| Somero Enterprises, Inc   ("Somero" or the "Company"), the      | 
| North American manufacturer of patented laser guided equipment  | 
| used for the spreading and levelling of high volumes of         | 
| concrete for floors in the construction industry, is pleased to | 
| confirm that trading for the half year to 30 June 2010 was in   | 
| line with its expectations, and that all banking covenants were | 
| passed at the half year.                                        | 
|                                                                 | 
| The Company continues to focus on cost reduction and control    | 
| while continuing to invest in emerging market opportunities and | 
| new product development. Sales of refurbished Large and Small   | 
| line equipment were significantly ahead of expectations across  | 
| all regions. This is an early stage indicator of economic       | 
| recovery within emerging markets and a positive indication of   | 
| the acceptance of our technology in those geographies.          | 
|                                                                 | 
| Jack Cooney, CEO of Somero, commented:                          | 
| "We are pleased with the Company's first half performance.      | 
| Although the Company experienced only modest growth over the    | 
| period in North America and Europe, we are encouraged by some   | 
| early signs of improving market conditions in the emerging      | 
| markets where we continue to make good progress.                | 
|                                                                 | 
| Looking forward, we hope to continue to expand on our           | 
| investment in the emerging markets and in new product           | 
| development."                                                   | 
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|                                                                 | 
| Somero will report half year results in mid September 2010.     | 
|                                                                 | 
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| Enquiries:                    |                                 | 
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|                               |                                 | 
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| Hawkpoint Partners Limited    | [phone]             | 
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| Chris Robinson / Serge Rissi  |                                 | 
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|                               |                                 | 
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| Collins Stewart plc           | [phone]             | 
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| Piers Coombs                  |                                 | 
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This information is provided by RNS 
            The company news service from the London Stock Exchange 
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