10th Jul 2019 10:35
(Alliance News) - 600 Group PLC on Wednesday said its profit grew by a third in its most recently ended financial year, helped by an enhancement of its sales and distribution resource and investments made in new product development.
The industrial engineering company said revenue for the year to the end of March rose 1.9% to USD65.2 million from USD63.9 million a year prior, pushing pretax profit up to USD4.4 million from USD3.3 million.
"These results demonstrate continued improvement in profitability and increasing revenue, which reflects our ongoing focus on driving operational efficiencies across the group whilst also investing for growth as we move up the value chain," said Executive Chair Paul Dupee.
As a result of the continued good operational performance, 600 Group said it has determined to continue payment of a dividend and declared a payout of 0.5 pence a share, unchanged year-on-year.
Looking ahead, Dupee said: "The 600 Group continues to go from strength to strength, we have a clear strategy for the future, and I look forward to reporting on future progress."
600 Group shares were trading 3.1% higher on Wednesday in London at 19.70p each.
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