600 Group (SIXH)

Sector:

Engineering

 2.65p
   
  • Change Today:
      0.000p
  • 52 Week High: 13.25
  • 52 Week Low: 2.40
  • Currency: UK Pounds
  • Shares Issued: 127.87m
  • Volume: 0
  • Market Cap: £3.39m
  • RiskGrade: 133

600 Group buys Spain's Kondia tools business for cut price

By Maryam Cockar

Date: Monday 17 Oct 2016

LONDON (ShareCast) - (ShareCast News) - 600 Group, a distributor of machine tools and industrial laser systems, has acquired the tools business of Spain's largest manufacturer of milling machines from the administrators for €50,000.
600 Group said the acquisition of Kondia would increase group earnings immediately, with the brand, intellectual property and inventory of spare parts "worth in excess of the acquisition costs" but available for a cut price after being placed in administration last year.

Clausing, one of 600 Group's subsidiaries, previously sold Kondia's FV milling machines, which it will start producing immediately following the acquisition, for the last 20 years and "established it as a leading brand in North America", as in 1990 sales of Kondia machines in the US contributed $3m in revenues for the AIM-listed company

Don Haselton, divisional managing director of UK and US machine tool operations, said the acquisition was an opportunity to grow the Kondia business in North America and worldwide.

"This acquisition increases group earnings immediately and looking ahead, I'm very confident that our team will build the revenues further as we develop the opportunities we have identified in this business."

Shares in 600 Group were down 5% to 9.50p at 0739 BST.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

600 Group Market Data

Currency UK Pounds
Share Price 2.65p
Change Today 0.000p
% Change 0.00 %
52 Week High 13.25
52 Week Low 2.40
Volume 0
Shares Issued 127.87m
Market Cap £3.39m
RiskGrade 133

600 Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
87.93% above the market average87.93% above the market average87.93% above the market average87.93% above the market average87.93% above the market average
64.71% above the sector average64.71% above the sector average64.71% above the sector average64.71% above the sector average64.71% above the sector average
Value
87.93% above the market average87.93% above the market average87.93% above the market average87.93% above the market average87.93% above the market average
64.71% above the sector average64.71% above the sector average64.71% above the sector average64.71% above the sector average64.71% above the sector average
Income Not Available
Growth
41.84% below the market average41.84% below the market average41.84% below the market average41.84% below the market average41.84% below the market average
39.39% below the sector average39.39% below the sector average39.39% below the sector average39.39% below the sector average39.39% below the sector average

600 Group Dividends

  Latest Previous
  Interim Final
Ex-Div 12-Dec-19 29-Aug-19
Paid 10-Jan-20 30-Sep-19
Amount 0.25p 0.50p

Trades for --2024

Time Volume / Share Price
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