(Alliance News) - 600 Group PLC said Wednesday at its annual general meeting that trading so far in its current financial year is in line with management expectations, despite global economic and political uncertainty affecting its markets.
The maker of machine tools and spares and other industrial products takes its name from its early head office address at 600 Commercial Road in East London.
600 Group's USD10 million acquisition of Control Micro Systems has been integrated well with the group's existing laser activities, by combining CMS's sales and marketing functions with 600 Group's own platform.
In addition, 600 Group in May completed the elimination of its UK pension scheme, resulting in the return of a USD5.2 million surplus to the group and the elimination of USD270 million in liabilities, leading to an improvement in financial strength.
600 Group said it expects to publish its interim results ending September 28 in early December.
Shares in 600 Group were up 2.1% at 18.12 pence on Wednesday.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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