29th Sep 2016 11:27
LONDON (Alliance News) - Distributor, designer and manufacturer of industrial products 600 Group PLC on Thursday said it continues to perform "satisfactorily".
In a statement made at the company's annual general meeting earlier today, Executive Chairman Paul Dupee noted trading conditions remained challenging.
Earlier this month, 600 had said the UK and Europe machine tool sector was proving particularly tough, whilst US and Australian markets were in a "difficult state".
Dupee noted 600's pension scheme was also performing strongly and was now more than 100% funded on a technical provisions valuation basis. The scheme remains in a substantial surplus on an accounting valuation basis, the executive chairman said.
Shares in 600 were untraded on Thursday, having last traded at 9.25 pence.
By Hannah Boland; [email protected]; @Hannaheboland
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