2nd Apr 2014 10:02
LONDON (Alliance News) - 600 Group PLC Wednesday said it expects to meet its forecasts for the year ended March 29, 2014, as revenues in its second-half had been ahead of the first half, boosted by the launch of new products at its Electrox Laser business.
The machine tools and laser marking equipment company said revenue growth had been driven by gains in market share, despite challenging conditions as worldwide consumption of machine tools declined in 2013.
Revenues and order intake in the final quarter were particularly encouraging, 600 Group said.
Forecasts taken from Gardner Research's World Machine-Tool Output & Consumption Survey expect a return to double digit market growth in machine tools for 2014, led by North American and European Markets.
Shares in 600 Group were trading up 5.2% at 16.38 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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