Revenues and profits up for Elland engineering group

Revenues and profits up for Elland engineering group
Credit: Vadim Ratnikov

600 Group, the Elland-based engineering group, has reported a rise in revenue and profits as it announces unaudited interim half year results.

For the six months ended 28 September 2019, the listed company posted a revenue rise of 13% from $31.6 million (£24.5m) to $35.7 million (£27.6m).

Underlying pre-tax profits for the same period have risen 28% from $1.3 million (£1m) to $1.7 million (£1.3m).

The company has subsequently improvement operating margins across both its divisions and continued to invest in new people and product improvements and developments.

During this period, the company successfully acquired Control Micro Systems, enhancing its laser capabilities. The group said the acquired company is “performing well”.

“This period has seen further progress in our strategy to build a global industrial business. The de-risking of the Group, both operationally and financially, has created a platform from which we are now beginning to leverage the strength of the Group’s brands and grow the business into increasingly diversified niche markets worldwide both organically and by acquisition,” said Paul Dupee, Executive Chairman of the Group.

“The Group has made headway despite certain macro-economic and political uncertainties across our end markets and although these may still create some short term disruption, the Board believes in the long term fundamentals of our businesses and the strategy they are now enacting and is optimistic for the long- term future.

“I am pleased to announce an interim divided of 0.25p per share, reflecting this good performance and the Board’s continued confidence in our businesses.”