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Concrete levelling technology group Somero Enterprises upgraded its annual earnings, revenue and cash guidance amid continued strong trading in North America.
Adjusted earnings before interest, tax, depreciation and amortisation for the year through December were now expected to be about $45 million, with revenue of about $130 million and cash of $39 million.
That compared to previous guidance for adjusted EBITDA of $42 million on revenue of $120 million and cash of $36 million.
Strong trading momentum that had continued into the second half was led by North America, alongside 'healthy contributions' to growth from Europe and Australia.
'In North America, market conditions remain healthy and positive, driven in part by demand for new warehousing, with customer workloads at high levels and reported project backlogs extending well into 2022,' Somero said.