The company expects full year revenues between US$83 million – 87 million. Revenues for the first half year declined 13.3% year over year to $39 million. Adjusted EBITDA, which declined by 22.8% year over year, was at $11.2 million. Profit before tax also declined by 22.8% year over year to $10.5 million.
Net cash position at the end of the first half was $15.1 million, down 27.1% year over year. The company declared an interim dividend of 5.75 US cents per share compared to 5.5 US cents per share in the corresponding prior-year period.
On 4th September 2019, at the time of writing, GMT 08:10 AM, SOM shares were quoted at GBX 225, down 55 points or 19.64% over the previous day closing price.