SIXH.L Regulatory News (SIXH)

17 Aug 2007 07:00

600 Group PLC17 August 2007 17 August 2007 The 600 Group PLC Interim Management Statement The 600 Group is today publishing its first Interim Management Statement asrequired by the UK Listing Authority's Disclosure and Transparency Rulesrelating to the period 1 April 2007 to 30 June 2007. Overall sales for the first 13 weeks of the financial year increased 6% comparedwith the same period last year. On 2 April 2007 Erickson Machine Tools Inc. wassold and underlying sales, after adjustment for this disposal, increased by 9%. Order intake activity across the Group has continued at an encouraging level.During the period, we were awarded a substantial contract by a major aerospacegroup for the supply of three Mitsui Seiki machining centres. The value of thecontract is approximately £2.5m and delivery is anticipated in the first half ofthe next financial year when the majority of the profit on the contract will berecognised. Operating margins are in line with our expectations with strict cost controlsbeing maintained. We continue to invest in product design and development aswell as sales and marketing. As anticipated, due to seasonal factors andincreased activity levels, net cash balances reduced in the period. On 1 May 2007 the UK parts and service business of Toyoda-Mitsui was acquiredfor a cash consideration of £390,000. Subsequent to the period end, on 1 August 2007, Mr. Martin Temple CBE succeededProfessor Michael Wright as non-executive Chairman of the Group. Tony Sweetenalso retired as a director at the same time, but will continue to be availableto assist the Board in a consultancy capacity until 31 December 2008. Outlook Our trading outlook remains in line with the Board's expectations. We continueto forecast overall growth in demand for machine tools and laser markingequipment. The medium term outlook is dependent upon the implementation of ourstrategic plans and further improvements in our machine tool supply chain. Enquiries: The 600 Group PLCAndrew Dick, Group Chief ExecutiveMartyn Wakeman, Group Finance Director Telephone: 0113 277 6100 Hudson SandlerWendy Baker Telephone: 020 7796 4133 Notes to Editors: The 600 Group PLC is an international group, manufacturing and marketing machinetools, machine tool accessories, lasers and other engineering products. The Group operate from some 35 locations world-wide and sell its products aroundthe world. Its international marketing and distribution network handles bothGroup products and those of other manufacturers. Website: www. 600group.com This information is provided by RNS The company news service from the London Stock Exchange