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The 600 Group Plc - Unaudited Interim Results for the six months ended 30 September 2017
Hamilton, Bermuda – November 21, 2017 – In a filing with the Bermuda Stock Exchange (“BSX”), The 600 Group Plc (the "Company”), whose Secured Loan Note Programme is listed on the BSX released their unaudited results to September 30th 2017. The filing stated:
The 600 Group PLC (“the Group”), the AIM listed distributor, designer and manufacturer of industrial products (AIM: SIXH), today announces its unaudited interim results for the six months ended 30 September 2017.
Highlights:
• Revenues were up 7% to £24.8m (FY 17 H1 : £23.2m)
• Underlying* operating profit up to £1.3m (FY17 H1 : £1.2m)
• Profit before tax up to £2.1m (FY 17 : £1.4m)
• Order books up 36% on the same time last year
• Industrial laser division contribution increased to 59% of profits* from operations
• ProPhotonix sale realised £1.5m and £1m profit
• Equity raise of £1.12m before costs to eliminate working capital bank debt in the UK
• Pension scheme in £12.2m technical provisions surplus
*from continuing operations, beforespecial items.
Commenting today, Paul Dupee, Executive Chairman of the Group said:
“Market conditions have improved generally over the previous year and both our divisions have been able to increase revenues and have much improved order books. These factors give us greater confidence going into the second half of our financial year and will be complemented by new product launches and an increasing focus on new sales activity in other geographical areas.
Whilst there remain a number of uncertain world events beyond our control which could affect our markets, the Board continues to believe that the process of leveraging our industry recognised brands such as Colchester, Harrison, Clausing, TYKMA and Electrox through new product developments and an increased worldwide distribution network will lead tocontinued revenue growth in the future.”
The full release can be found by using the following link:
www.bsx.com/CompanyDocuments/1099938593/600%20group%20interim%20report%20sept%2017%20_.pdf