600 Group moves back into profit

The Leeds-based company, which switched from the official list to AIM earlier this year, said the figure, for the year to April, compared to a loss of £8.7m in 2010. Revenue grew by 11 per cent to £50.6m.

In a statement this morning, the group said the integration of a machine tool manufacturing facility it acquired in Poland was progressing well and it had seen a recovery in US markets for machine tools and precision engineering products.

It added that there had been a “much improved” performance in mechanical and waste handling in South Africa.

The company unveiled plans to focus its manufacturing activities in Heckmondwike and the Polish plant.

David Norman, chief executive of The 600 Group, said: “The group is now well positioned with a much lower breakeven point and a strong order book at the end of the period compared to the same time last year.

“The successful integration of FMT Colchester in Poland, introduction of lean manufacturing techniques and capacity improvements throughout our European factories will be the basis for further profitable development of the Group which should provide a sound platform for future growth.”

Meanwhile, 600 Group chairman Martin Temple announced plans to stand down after four years in the role which has seen the company go through a major turnaround strategy.

He said: “Following the completion of the turnaround strategy the Group is considerably stronger than when I became Chairman and well placed to proceed to the next stage of its development. Consequently, I believe that this is a suitable time for me to stand down and accordingly I will not be putting myself forward for re-election.”