1st Jul 2015 07:23
LONDON (Alliance News) - Industrial products manufacturer and designer The 600 Group PLC on Wednesday saw its shares rise as it posted a rise in pretax profit on the back of better revenue.
The company said its pretax profit in the year to March 28 was GBP3.7 million, up from GBP2.5 million a year earlier, as its revenue increased 5% to GBP43.8 million from GBP41.7 million and it maintained is operating margin at 5.6%.
600 said it generated improved revenue and grew its market share in the US and Europe despite a challenging trading environment and weaker-than-expected results in its Australian arm.
600 did not recommend the payment of a dividend for the year.
"This has been a year of substantial change. We have made two significant investments in TYKMA and the holding in ProPhotonix. TYKMA is now fully integrated with our Electrox business under the leadership of David Grimes in the US and is already making a good contribution to revenues and profits. We continue to maintain a cordial and constructive relationship with the ProPhotonix board," said Executive Chairman Paul Dupee.
"In our industrial products and machine tools business, we have an excellent team of sales and engineering professionals where Don Haselton of our US business is leading the focus on revenue growth through market development utilising the Colchester, Harrison, Clausing and Pratt Burnerd brands," he added.
Shares in 600 Group were up 6.6% in early trade to 17.725 pence, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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