600 Group (AIM:SIXH) – out of intensive care!
The AIM quoted machine tools and laser marking company has announced encouraging results for the year ending 30 March 2013. This could be a big recovery play but it's a tough market in which to grow
Revenues for the year were up 11.2% to £41.79m, a terrific achievement in itself in the face of challenging markets. Operating profit was up 322% to £0.97m (2012: £0.23m) and adjusted profiot before tax was £390k (2012: Loss £420k). EPS increased to 5.25p (2012: loss of 23.30p). Net assets at the year end were £21.7m (2012: £7.0m) after the inclusion of the pension surplus on the Group Balance Sheet for the first time. Not clear of the true impact of this but stripping this out appears to leave net assets around the current market cap of approx £9m. - Year…