[Nick Hargrave]

https://www.londonstockexchange.com/news-article/SOM/trading-update/15816601

SOM released their FY 22 trading update and continue to deliver. We expect the market to focus on the very minor ‘miss’ vs expectations due to supply chain issues of customers in North America, but as usual this will itself miss:
– the company has performed strongly in 2022 in a challenging environment and delivered record revenue, despite having almost entirely exited China
– a confident outlook for FY 23 where they are investing for growth with the new facility fully operational in Q1
– highly profitable and cash generative model
– growth outside of the US with the re-focused international strategy targeting Australia and Europe
– continued introduction of disruptive new products into the market, increasingly gaining traction
– the company remains an effective global monopoly operators

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