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600 Group PLC - West Yorkshire, England-based manufacturer and distributor of machine tools, precision engineered components and industrial laser systems - Expects revenue for the year ended on March 31 to be about $30 million, with gross profit of not less than about $11.5 million. Expects operating loss of about $2.4 million. For financial 2022, revenue was £32 million, and operating profit was $1.2 million. Says the loss has been driven mainly by the delivery of ‘several unprofitable ordinary course customer contracts within the group’s business which have resulted in lower gross margins than had been originally anticipated’. As at March 31, order book amounts to $7.8 million. Tangible net assets are expected to be no less than $11 million.
Current stock price: 8.31 pence
12-month change: down 44%
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