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

The 600 Group sells machine tool divisions as it pivots to lasers

By Josh White

Date: Monday 07 Mar 2022

LONDON (ShareCast) - (Sharecast News) - Industrial engineering company, the 600 Group, announced a conditional sale and purchase agreement with Timesavers Acquisition on Monday, for the disposal of 600 UK, Colchester, 600 Machinery Australia and Clausing Industrial.
The AIM-traded firm said total cash consideration of $21m (£15.97m) would be payable on completion.

It said the disposal would complete its strategic shift towards the growing industrial laser systems business.

The net proceeds would provide the group with the resources to pay down its existing debts, and provide "significant" additional resources to invest in organic and inorganic growth strategies focussed on industrial laser systems, the board said.

"The group's strategic focus on our industrial laser systems businesses has already successfully generated higher margins, large new customer wins and a record order book," said chairman Paul Dupee.

"The proposed disposal of our machine tool solutions division is the culmination of this strategy, and will provide the group with the funds to strengthen our balance sheet and further accelerate the growth of our laser division."

Dupee explained that industrial lasers were deployed by its blue-chip customers across multiple industries and applications.

"The investment we have made to date in our two laser businesses - Control Micro Systems and TYKMA Electrox - puts the group in a commanding position to offer higher-margin, customised products with the pricing power to withstand market pressures.

"We believe this is a highly attractive yet fragmented market and we will now be even better positioned to focus the group's efforts on capitalising on this opportunity."

At 1503 GMT, shares in the 600 Group were up 16.35% at 13.38p.

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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
88.56% above the market average88.56% above the market average88.56% above the market average88.56% above the market average88.56% above the market average
75.76% above the sector average75.76% above the sector average75.76% above the sector average75.76% above the sector average75.76% above the sector average
Value
88.56% above the market average88.56% above the market average88.56% above the market average88.56% above the market average88.56% above the market average
75.76% above the sector average75.76% above the sector average75.76% above the sector average75.76% above the sector average75.76% above the sector average
Income Not Available
Growth
44.52% below the market average44.52% below the market average44.52% below the market average44.52% below the market average44.52% below the market average
45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% 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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