Somero Enterprises, Inc. (AIM:SOM), the US-focused but UK-listed concrete levelling specialist, saw half-year profits tumble as labour shortages and concrete rationing hit trading.
The US saw the brunt of the problems with Europe steady, said the group, but adverse weather also affected its operation in Australia.
Interim revenues dropped by 12% to US$51.8 million with profits down by a third to US$10.6 million with the dividend dropping by a fifth to 0.8c.
Jack Cooney, chief executive, said: “Looking ahead, the resilience of the non-residential market gives us confidence that, as external challenges subside, our performance will improve.”
Shares fell 2% to 300p.