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600 Group

  • BY: Andrew Hore |
  • POSTED: 12/02/2014 |

Machine tools supplier 600 Group has ended talks with Qingdao D&D Investment Group Co. Ltd about the sale of assets. 

The company says that the potential purchaser had failed to make the required progress by the deadlines set out. Management says that the talks did not distract them from the business and second half trading is in line with expectations. finnCap forecasts a profit of 1.9m for the year to March 2014.

The 600 Group share price fell 1.5p to 16.75p, which values the company at 14.2m. The shares are trading on nine times prospective 2013-14 earnings.

Andrew Perloff and Maland Pension Fund acquired 300,000 shares earlier this month, taking their stake to 6m shares (7.1%).

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