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600 Group expected to break-even

24 March 2006

The 600 Group today annouced that they expect their overall Group profit to be close to break-even for the current financial year ending 31 March 2006. They are also expecting exceptional write downs relating principally to goodwill and inventory of £2m.

However, overall order intake is encourgaing and the group are optimistic for the forthcoming year.

Two new contract awards were announced today, valued at more than £5m to the company. The first is for Airbus UK for the supply of four Mitsui Seiki machining centres and a Fastems materials handling system, valued at £4.4m. The second is for the World Bank for the supply of machine tools to Sudan, valued at £1m. Both contracts will be delivered in the next financial year.

The group also said that their Electrox laser marking business was making progress and nearly 50% of sales within the last two months have come from products launched within the last six months.

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