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Concrete levelling technology group Somero Enterprises again upgraded its annual earnings and revenue guidance amid a robust performance in the US.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the year through December were expected to rise to $48 million, up 83% year-on-year and above previous guidance of $45 million.
Revenue was seen jumping 50% to $133 million, ahead of previous guidance of $130 million.
Year-end cash also was expected to beat guidance, coming in at around $42 million.
North America reported 'particularly strong' trading results in the second half of 2021 to end a record-breaking year there, Somero said.
Looking forward, the company said it looked forward to 2022 with confidence, based on the strength of the US market, positive conditions in Europe and Australia and opportunities for growth from new products.
'The board expects 2022 will be a highly profitable year with healthy cash generation, modest revenue growth, and EBITDA comparable to 2021 that reflects the planned investment in resources for future growth and the full-year impact of 2021 staffing additions required to support the growth of the business.'