Transformational Year For 600 Group
Elland-based 600 Group, saw underlying pre-tax profit and revenue grow in the year ended 30 March 2019.
The machine took maker reported revenue from continuing operations was up by 1.9% to $65.2m and underlying pre-tax profit up to $4.1m
In May the Group launched a new European Technology Centre reflects strategic focus on product innovation as 600 Group seeks to underpin organic growth through a strong focus on product development, including launching new products that add to the higher end capabilities of the Group's product range.
Paul Dupee, Executive Chairman of the Group, commented: “This has been a transformational year for the Group with a number of major developments, both operationally and financially, supporting our strategy of building a global industrials business.
These results demonstrate continued improvement in profitability and increasing revenues, which reflects our ongoing focus on driving operational efficiencies across the Group whilst also investing for growth as we move up the value chain.”
The re-launch of the UK business as “Colchester Machine Tool Solutions” and the move to a new site in February 2019 gave fresh impetus to the revised management team.
The new facility near Halifax in West Yorkshire integrates a modern, open plan office environment, enhanced manufacturing and warehousing space as well as serving as the Group’s new European Technology Centre with a dedicated year-round product showroom, demonstration and customer training capability to showcase the business’ increasingly innovative product range.
The Yorkshire Times reported in June that the Group had bought Control Micro Systems (CMS). “The acquisition of CMS is highly complementary to the Group’s existing laser business and will further enhance our customer offering as we seek to capture world-wide growth in the use of industrial lasers.
As a result of the Group’s improved performance and strengthened financial position following the successful completion of the pension scheme buy out, I am pleased to announce the Board’s recommendation of a final dividend of 0.5p per share. 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,” Mr Dupee added
Transformational Year For 600 Group, 11th July 2019, 8:24 AM