600 Group sees revenue growth; order books rise

The 600 Group plc saw revenue growth of 13% in the second half of its financial year (ends 2 October).

The Group, which counts machine tool, machine tool accessory and laser marking equipment manufacture as core activities, also reported a pre-tax profit of £1.3 million, compared with a loss of £5.8 million in the same period last year.

Other items reported by the group are that: the turnaround strategy has been completed, which continues to deliver positive results; worldwide market conditions are improving; its order book is up 33% on comparative period in 2009; additional funding removes constraints on capital; the acquisition in Poland has been completed, with integration progressing successfully.

"The success of the turnaround strategy we are executing, coupled with the funding secured earlier in the year, means the group is now in a significantly stronger financial position to deliver increasing revenues and margins," said group chief executive David Norman (pictured).

He said the Polish acquisition is "a transformational deal" that gives the group an EU manufacturing footprint capable of servicing its international sales organisation, offering lead time and quality benefits. It shortens the supply chain, reduces working capital needs, and together with improving conditions, positions the group well for the future, he added.

Author
Andrew Allcock

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