600 Group PLC - manufacturer and distributor of machine tools, precision engineered components and industrial laser systems - Sinks to pretax loss in six months to September 30 of USD568,000 versus USD1.7 million profit the year before. Interim revenue slips to USD25.4 million from USD35.7 million.
Executive Chair Paul Dupee says: "The reporting period has been heavily impacted by the Covid-19 pandemic. However, the group responded quickly to the challenges, reducing costs and keeping our core competencies together.
"The de-risking of the group, both operationally and financially, in the last year has created a platform from which we can leverage the strength of the group's brands and grow the business into increasingly diversified niche markets worldwide both organically and by acquisition once activity levels normalise."
Current stock price: 9.75 pence
Year-to-date change: down 34%
By Paul McGowan; paulmcgowan@alliancenews.com
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