Improved market conditions boost profits at 600 Group

Industrial products designer and distributor The 600 Group increased profits over its first trading half thanks to a revenue boost from improved market conditions.

The AIM-listed firm watched revenue grow £24.8m, a 7% year-on-year gain; bringing pre-tax profits up from £1.37m to £2.06m for the six months leading to 30 September.

Across the group, the 600 Group saw order books expand 36% on the same time twelve months prior, with its industrial laser division accounting for 59% of all profits.

Paul Dupee, executive chairman, said, "Market conditions have improved generally over the previous year and both our divisions have been able to increase revenues and have much-improved order books."

"Whilst there remain a number of uncertain world events beyond our control which could affect our markets, the board continues to believe that the process of leveraging our industry recognised brands such as Colchester, Harrison, Clausing, TYKMA and Electrox through new product developments and an increased worldwide distribution network will lead to continued revenue growth in the future," he added.

Earnings per share jumped from 1.05p at the halfway point of 2016 to 1.75p on 30 September.

As of 1045 GMT, shares had gained 3.02% to 13.65p.