Today’s City news: 600 Group, Fulcrum Utility Services, Tracsis, Surgical Innovations
AIM-LISTED machine tools and laser marking company 600 Group today said in a trading update that group revenues for the full year showed double digit growth, with the rate of increase in the second half higher than that reported in the interim results despite more challenging market conditions.
The Leeds-based group said that this was achieved through gains of market share in the US, and sustained improvements in customer lead times and inventory availability in Europe.
The completion of the programme of disposals during the second half, coupled with the proceeds of the share issue in September 2012, has enabled the group to commit to investment in design and development, refurbishment of its Heckmondwike site, and a controlled increase in working capital to “normalised” levels.
The group said that by the year end on March 30 it had delivered a further reduction in net indebtedness, providing a “robust platform from which to deliver future growth opportunities”.
Preliminary results will be announced on Wednesday June 26.
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FULCRUM Utility Services has signed a new framework contract with npower for the provision of commercial and industrial utility connections services.
The Sheffield-based company expects that volumes from this agreement will benefit revenue in the second half of this financial year.
CEO John Spellman, said: “We are delighted to have concluded this deal with npower, and look forward to working closely with them to utilise our expertise for the benefit of npower customers. We look forward to seeing the results of this partnership develop over the longer term.”
Stuart Beasley, business sales manager at npower said: “It’s important that we’re able to provide a smooth and reliable connections service to our business customers, and believe Fulcrum will deliver the best solutions for our customers’ requirements.”
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DATA software firm Tracsis said today that its £3.28m deal to buy fellow Yorkshire-based business Sky High is now unconditional after being accepted by shareholders
The cash offer will see Leeds-based Tracsis pay 15.25p for every Sky High share.
The offer represents a premium of almost 70% to the 9p closing price of each Sky High share when it was announced last month.
Data collection business Sky High is based in Tadcaster, North Yorkshire, and saw pre-tax profits rise to £289,000 over the six months to September 30 last year.
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Surgical Innovations Group, the designer and manufacturer surgical products, today announced the appointment of consultant thoracic surgeon Marco Scarci to its clinical advisory board (CAB) with immediate effect.
Marco Scarci specialises in video-assisted thoracoscopic surgery (VATS) at Papworth Hospital NHS Foundation Trust.
VATS is a type of minimally invasive thoracic surgery performed using a small video camera. These procedures are a recent development within thoracic surgery and allow surgeons to see inside the chest cavity after only making a small incision. This type of surgery benefits the patient in a number of ways including reduced post operative pain, length of hospital stay and promotes a faster return to preoperative function.
Graham Bowland, chief executive of Surgical Innovations, said: “I am delighted to welcome Marco to the CAB. Marco’s expertise in MIS thoracic surgery will help us increase our awareness in this area. He is the first thoracic surgeon to join SI’s CAB and reinforces our strategy to transfer our technology into new areas of the body.”
