2 Apr 2014 07:00
2 April 2014
600 Group Plc period end trading update (AIM: SIXH)
600 Group Plc, the AIM-listed producer of machine tools and laser marking equipment, provides the following update on trading for the year ended 29 March 2014.
Group revenues in the second half of the financial year were ahead of those in the first half, particularly at Electrox Laser following the successful launch of new product ranges in September 2013. Revenue growth was delivered through further gains in market share, against a backdrop of quite challenging conditions. Worldwide total market consumption of machine tools declined in calendar year 2013* by approximately 8.5%, led by a significant reduction in consumption in Asia and North America, with European markets more stable.
Group revenues and order intake during the final quarter ended 29 March 2014 were particularly encouraging. Industry forecasts for calendar year 2014* anticipate a return to double digit market growth, led by North American and European markets.
Overall, we expect Group trading results for the year ended 29 March 2014 to be in line with the board's expectations, and a positive start to the new financial year.
A number of institutional investors have been invited to an event at Electrox Laser on 8 April 2014. A copy of the presentation shown at the event, which will include no new price sensitive material, will be available on the company website at www.600group.com from 12 noon that day.
*Source: World Machine-Tool Output & Consumption Survey, Gardner Research, February 2014
More Information on the group can be viewed at: www.600group.com
Enquiries:
The 600 Group PLC | 01924 415 000 |
Nigel Rogers, Chief Executive |
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Neil Carrick, Finance Director |
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Cadogan PR Limited | 0207 4995002 / 07771713608 |
Alex Walters |
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FinnCap | 020 7220 0500 |
Julian Blunt / Ben Thompson (corporate finance) |
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Tony Quirke / Victoria Bates (sales & broking) |
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Spark Advisory Partners | 020 3368 3553 |
Miriam Greenwood/ Sean Wyndham-Quin |
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