Pre-close trading update

RNS Number : 5012C

600 Group PLC

17 April 2013

 

17 April 2013

The 600 Group PLC

Pre-close trading update

The board of 600 Group Plc, the AIM listed machine tools and laser marking company (AIM: SIXH) announces the following update on trading in respect of the year ended 30 March 2013.

Group revenues for the full year showed double digit growth, with the rate of increase in the second half higher than that reported in the interim results despite more challenging market conditions.  This was achieved through gains of market share in the US, and sustained improvements in customer lead times and inventory availability in Europe. 

The completion of the programme of disposals during the second half, coupled with the proceeds of the share issue in September 2012, has enabled the group to commit to investment in design and development, refurbishment of the Heckmondwike site, and a controlled increase in working capital to normalised levels. The benefits of these investments are evident, and are contributing to customer confidence.  Distributor events will take place in coming weeks to showcase enhanced facilities, and the new product pipeline.

By the year end, the group had delivered a further reduction in net indebtedness, providing a robust platform from which to deliver future growth opportunities.

Preliminary results for the year ended 30 March 2013, which are expected to meet current market expectations, will be announced on Wednesday 26 June 2013 together with an update on trading prospects for the coming year.

More Information on the group can be viewed at: www.600group.com

Enquiries:
The 600 Group PLC	Tel: [phone]
Nigel Rogers, Chief Executive
Neil Carrick, Finance Director
Cadogan PR Limited	Tel: [phone]
Alex Walters	Tel: [phone]
FinnCap	Tel: [phone]
Ed Frisby / Ben Thompson(Corporate Finance) Tony Quirke / Victoria Bates (Corporate Broking)
SPARK Advisory Partners
Miriam Greenwood/Sean Wyndham-Quin	Tel: [phone]

 

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