600 Group boosted by improving markets

Posted on 03 Dec 2017 and read 387 times
600 Group boosted by improving marketsThe 600 Group (www.600group.com) — a manufacturer and distributor of machine tools, precision-engineered components and industrial laser systems — has reported an increase in its revenues and profits on the back of improving market conditions.

Revenues for the six months to the end of September were up 7% to £24.8 million, while profits before tax rose to £2.1 million (compared to £1.4 million a year earlier), and order books were up 36% on the same period of last year. The group said that its industrial laser division provided 59% of its operating profits.

A number of operational cost reduction initiatives are taking place — led by new UK managing director Terry Allison — to improve net margins in the second half of the financial year, alongside the launch of new products to further stimulate sales growth.

The group disposed of its entire holding in ProPhotonix — the AIM-listed laser diode and LED systems manufacturer and distributor — for £1.5 million at the end of August 2017.

Executive chairman Paul Dupee said: “Market conditions have improved generally over the previous year, and our three divisions have much-improved order books.

“These factors give us greater confidence going into the second half of our financial year; they will be complemented by new-product launches and an increasing focus on new sales activity.”

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