600 Group – in line results give a 20%+ boost to share price
The machine tools and laser marking company announced interim results that really brought out the buyers - loads more to go for here...or not!
Revenues rose 9.5% to £19.91m and there was a small net profit of £0.19m which in itself was encouraging compared with the comparable period loss of £6.46m.
The reduction in net debt to £6.89m (31 March 2012: £7.99m) probably encouraged more than anything else; net gearing was 60%.
The outlook statement was also encouraging with good revenue growth reflecting the improved supply chain and working capital position, and cost savings starting to take effect.
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