600 Group PLC Trading Update (2378X)
18 Diciembre 2019 - 1:00AM
UK Regulatory
TIDMSIXH
RNS Number : 2378X
600 Group PLC
18 December 2019
18 December 2019
The 600 Group PLC
Trading Update
The 600 Group PLC ("the Group"), the diversified industrial
engineering company (AIM: SIXH), today announces a trading
update.
As noted in our interim results, the Group has been experiencing
certain macro-economic and political uncertainties across our end
markets which it anticipated might create some short-term
disruption to trading.
Consequently, order intake for the fourth quarter is now
expected to be significantly below originally predicted levels,
with orders for Germany and the Far East, in particular, suffering
delays heavily influenced by the global automotive slowdown.
There has been good progress in the UK business, where orders
remain over 100% up on the prior year as well as continued good
performance at the newly acquired CMS business, driven by its focus
on healthcare and pharmaceuticals. Gross margins across the Group
are also holding up well.
However, these positive factors will not be sufficient to make
up the shortfall from the likely revenue reduction and as a result,
the outturn for the full year is expected to be significantly below
the Board's previous expectations.
Despite the short-term end-market weaknesses and macroeconomic
uncertainty, the Board continues to believe in the long-term
fundamentals of the Group and the strategy in place to de-risk and
diversify the business and remains optimistic for the long-term
future.
ENDS
Enquiries:
The 600 Group PLC Tel: 01924 415000
Paul Dupee, Executive Chairman
Neil Carrick, Finance Director
Instinctif Partners Tel: 0207 457 2020
Mark Garraway
James Gray
Spark Advisory Partners Limited (NOMAD) Tel: 020 3368 3553
Matt Davis
WH Ireland (Broker) Tel: 020 7220 1666
Harry Ansell
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014
About The 600 Group PLC
The 600 Group PLC is a distributor, designer and manufacturer of
industrial products with three principle areas of activities:
Machine Tools
The business has a strong reputation in the market for metal
turning machines. Products range from small conventional machines
for education markets, CNC workshop machines and CNC production
machines. Selected outsourcing partners support the manufacturing
of these machines and they are marketed through the Group's wholly
owned international sales organisation and a global distribution
network.
Precision Engineered Components
Machine spares are distributed to customers globally to help
maintain the installed base of group machines which number in
excess of 100,000. Additionally, work holding products are sold via
specialist distributors to OEMs, including other machine
builders.
Industrial Laser Systems
Industrial laser systems cover laser marking and processing
including cutting, drilling, ablation and a host of other niche
applications in the marking and micro machining sectors. They
require no consumables, can operate on a continuous high speed
basis and can be integrated into customers' production lines. The
businesses have their own technology and proprietary software.
Customer applications are diverse and range from aerospace to
medical and pharmaceuticals. The requirement for increased product
and component traceability is one of the market drivers.
More information on the Group can be viewed at:
www.600group.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTDMMMZLNVGLZM
(END) Dow Jones Newswires
December 18, 2019 02:00 ET (07:00 GMT)
600 (LSE:SIXH)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
600 (LSE:SIXH)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
