Somero trading in line with full-year guidance

(Sharecast News) - Somero Enterprises said on Friday that trading in the first five months of 2026 had tracked well against its full-year guidance, as stabilisation continued in its largest market of US private non-residential construction.

The AIM-traded concrete levelling equipment specialist said the positive momentum seen at the end of 2025 had carried into the five months ended 31 May.

It said trading was progressing well against the guidance for the year ending 31 December that it issued with its full-year 2025 results on 10 March.

Somero said it expected to provide a more detailed update on trading for the first half of 2026 in July.

The company also said its board had begun the search for an independent non-executive director to replace Larry Horsch, following the succession update issued on 30 April.

The search was being carried out with the assistance of an executive search and leadership advisory firm and is expected to conclude by the end of the year.

Somero said the board was seeking a candidate whose skills and experience would complement the existing board and support long-term value creation.

With its executive team now fully established and the non-executive search underway, the board said it would consider updated recommendations under the 2023 edition of the Quoted Companies Alliance Code.

The company added that, with the assistance of advisers, the board was also carrying out a review of its governance arrangements and legal constitution.

Somero said any proposed changes that required shareholder approval could be put to a general meeting later in the year.

Somero's annual general meeting was set to be held on 17 June at its Atlantic Mine site in Michigan.

At 1121 BST, shares in Somero Enterprises were up 3.7% at 191.85p.

Reporting by Josh White for Sharecast.com.

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