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 reinstates dividend after revenue boost

By Duncan Ferris

Date: Friday 20 Jul 2018

LONDON (ShareCast) - (Sharecast News) - Shares in machine tools engineering firm 600 Group received a boost on Friday after it reintroduced its final dividend, a proposed 0.5p per share, following significant revenue growth in its full-year results.
Compared to the previous year, revenue increased by 12% to $66m in the year ended 31 March but pre-tax profits fell 4.2% to $3.9m, affected by a fall in one-off gains during the period to $0.82m from $1.4m.

Also contributing to the proposed dividend is the fact that an agreement has been reached for the buy out of the scheme liabilities of 600 Group's UK defined benefit pension scheme, with the total net amount payable to the company currently estimated to be between $4m and $5m.

600 Group had cash an cash equivalents of $1.68m, up 24% from the previous year, while group net debt was down 9% at $15.6m.

Executive chairman Paul Dupee: "Looking forward, we expect to improve even further as we achieve cost savings in our UK operations and begin to see the benefits of the improved range of machines and engineering solutions being developed throughout the group."

The reorganisation is targeting a reduced capex requirement and improved margins further, and will be funded through sale of surplus assets resulting from the company's rationalisation decisions.

The firm reported that its order book remains stable amid improving industry forecasts for growth, plans for an expansion of 600 Group's worldwide distribution network and the upcoming release of new products.

"We go into this new financial year with great confidence and I am delighted that this has given us the opportunity to reinstate paying a dividend to shareholders for the first time in many years," said Dupee.

600 Group's shares were up 9.09% at 18.00p at 1330 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
87.57% above the market average87.57% above the market average87.57% above the market average87.57% above the market average87.57% 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
87.57% above the market average87.57% above the market average87.57% above the market average87.57% above the market average87.57% 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
41.89% below the market average41.89% below the market average41.89% below the market average41.89% below the market average41.89% 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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