Revenue grows to £52m for listed engineering group

Elland-based listed engineering business 600 Group has announced its revenues have risen to £52m, a 1.9% rise on last year.

As part of its results for the year ending 30 March 2019, the business also said its underlying operating profits were up to  $5.3m (2018: $1.8m), its gross margin had improved from 2.4% to 36.1% (2018: 33.7%) while underlying pre-tax profits were up to $4.1m (2018: $0.6m).

Paul Dupee, Executive Chairman of the Group, said: “This has been a transformational year for the Group with a number of major developments, both operationally and financially, supporting our strategy of building a global industrials business.

“These results demonstrate continued improvement in profitability and increasing revenues, which reflects our ongoing focus on driving operational efficiencies across the Group whilst also investing for growth as we move up the value chain.

“As announced on 24 June 2019, we were pleased to announce the acquisition of Control Micro Systems.

“CMS is highly complementary to the Group’s existing laser business and will further enhance our customer offering as we seek to capture world-wide growth in the use of industrial lasers.

“As a result of the Group’s improved performance and strengthened financial position following the successful completion of the pension scheme buy out, I am pleased to announce the Board’s recommendation of a final dividend of 0.5p per share.

“The 600 Group continues to go from strength to strength.

“We have a clear strategy for the future, and I look forward to reporting on future progress.”

Dupee added: “We are constantly seeking to leverage our industry-recognised brands and expand our worldwide distribution network.

“The introduction of new and innovative products to widen the customer base continues to be a clear focus for both our divisional management teams.

“The Board continues to believe the strategy of brand promotion, investment in new, higher end product capabilities, diversification into new markets and selective acquisitions will help the business move up the value chain and lead to continued market share growth in the future.”

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