24th May 2023 11:31
600 Group PLC - West Yorkshire, England-based manufacturer and distributor of machine tools, precision engineered components and industrial laser systems - Expects revenue for the year ended on March 31 to be about USD30 million, with gross profit of not less than about USD11.5 million. Expects operating loss of about USD2.4 million. For financial 2022, revenue was GBP32 million, and operating profit was USD1.2 million. Says the loss has been driven mainly by the delivery of "several unprofitable ordinary course customer contracts within the group's business which have resulted in lower gross margins than had been originally anticipated". As at March 31, order book amounts to USD7.8 million. Tangible net assets are expected to be no less than USD11 million. Read More
