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

Profits rise at 600 Group as pension deal cuts risks

By Duncan Ferris

Date: Monday 19 Nov 2018

LONDON (ShareCast) - (Sharecast News) - Machine tools manufacturer 600 Group reported on Monday that its interim profit before tax enjoyed a healthy increase as revenues crept upward and its order book expanded.
For the six-month period ended 29 September the company's profit before tax was $1.5m, up 36% from the same period last year, while revenue rose by 2% to reach $32.8m.

The half-year period saw the AIM-listed company undertake a pensions transaction which has freed it from the risks associated with $270m of scheme liabilities.

This de-risked the group's balance sheet and secured the UK scheme for its 2,000 pensioners and 800 deferred members through a buy-in insurance policy with Pension Insurance Corporation.

Paul Dupee, executive chairman of 600 Group, said: "We are pursuing a strategy to build a global industrials business. In the period we made further progress in de-risking the group, both operationally and financially, as we create a more flexible platform from which to leverage the strength of the group's brands and grow the business into increasingly diversified niche markets worldwide."

The group order book size was up by 5% while cash and cash equivalents stood at $0.8m at 29 September, up from $0.7m at the same point last year.

"Despite certain macro-economic and political uncertainties across our end markets, enquiry and quotation activity remains good with revenue visibility underpinned by an improved orderbook. I am also pleased to announce an interim dividend of 0.25p per share, reflecting the board's confidence in the group's prospects and the significant opportunity ahead," said Dupee.

600 Group's shares were unchanged at 17.50p at 0922 GMT.

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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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