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600 Group

  • BY: Andrew Hore |
  • POSTED: 02/04/2014 |

Machine tools supplier 600 Group says new product launches helped second half revenues to grow. 

The company is gaining market share. There was an 8.5% decline in the machine tools market during 2013. Industry forecasts suggest a sharp recovery in the market in 2014, with double digit growth.

The laser marking business has been the best performer in the fourth quarter. finnCap forecasts a profit of 1.9m for the year to March 2014.

The company ended bid talks with Qingdao D&D Investment Group Co. Ltd during February.

At 17.25p a share, up 1.25p, 600 Group The shares are trading on less than ten times 2013-14 earnings, declining to less than nine in 2014-15.

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