Small Cap Value Report (Wed 16 Jan 2019) - SOM, NXR, OPM, HEAD, CLIG
A busy round of updates. This list is provisional:
Somero Enterprises Inc (LON:SOM) - trading updateNorcros (LON:NXR) - proposed acquisition and trading update1pm (LON:OPM) - interim resultsHeadlam (LON:HEAD) - trading updateCity of London Investment (LON:CLIG) - trading updateSomero Enterprises Inc (LON:SOM)
Share price: 337.5p (+15%)No. of shares: 56 millionMarket cap: £190 million ($244 million)Trading Update
Well done to holders, as Somero delivers that pleasant phrase: "ahead of expectations".
Key points:
2018 revenues and EBITDA "moderately ahead of market expectations". (EBITDA was expected to be $29 million)net cash "more significantly ahead of expectations" (it was expected to be $25 million)no change to dividend policyThe company is excited about its new product, the SkyScreed 25, which you can watch in operation at this link. It will be officially launched later this month.
A booming US construction industry looks responsible for Somero's outperformance, as Europe, China and Latin America...