Dividend appeal | Motor dealer acquisition| Downgrade
The offer for one of the UK’s largest motor dealerships has lifted the sector; who will be next? Elsewhere, delays in its key North American market, brought downgrades for a company supporting the US construction sector, while there is big recovery potential for the world’s foremost maker of Christmas crackers, if only its products held more appeal. (Free to read)
Somero: delays bring downgrade but cash flow remain positive In a trading update covering the 5 months to the end of May, Somero Enterprises (AIM:SOM), the US-based manufacturer of laser-guided concrete levelling equipment, reported that delays are impacting trading. Despite progress in other regions, North America still dominates this company’s activities, representing 81% of revenues last year, so this is essentially a play on the ongoing strength of the US construction sector. Elevated interest rates, tightened bank lending standards and, to a lesser degree, construction permitting delays due to large complex projects creating bottlenecks in the approval process in certain…