Revenues rise at 600 Group as it continues acquisition hunt
AIM-listed machine tools and laser marking company 600 Group has seen revenues rise and profits boosted in its latest six month results, as it continues to explore acquisition opportunities.
The West Yorkshire-based tool manufacturer reported revenues up 0.5% to £21.05m in this second half compared to the first half results of £20.94m and pre-tax profit shot up to £3.16m compared to £0.94m in the first half.
Paul Dupee, chairman, said the businesses have delivered “satisfactory” financial results for the six month period ended 27 September 2014.
“Revenue growth was above the industry average and profit margins showed continued resilience despite facing sluggish overall market demand,” he said.
“The board is optimistic that continued investment in product development, facilities and people offers the opportunity for stronger organic growth than the market average, based on further increases in market share. Meanwhile, we continue to explore acquisition opportunities and anticipate progress from this activity in the second half of the year.”
The group, headquartered in Heckmondwike, also announced this morning that an offer has been accepted, subject to contract, for the sale of the former head office building in Leeds at close to its current book value of £0.39m.
The 600 Group sells into more than 180 countries worldwide through its brands of Colchester and Harrison machine tools, Pratt Burnerd and Gamet precision components, and Electrox laser markers, with operations in Europe, North America and Australia.
