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Concrete levelling technology group Somero Enterprises upgraded its annual profit guidance following stronger-than-expected trading in the US.
The company was not expecting revenue for the 2021 calendar year of around $110.0 million and adjusted earnings before interest tax, depreciation and amortisation of $35.0 million.
That compared to previous guidance of revenue of around $100 million and adjusted EBITDA of around $31 million.
'This is due in part to catch up on projects previously slowed by Covid restrictions and is also supported by a healthy and active US non-residential construction market,' it said.