Rogers to stand down at 600 Group

The Leeds-based group said it would like to thank Mr Rogers for his “dedication, leadership and contribution” to the company over the last three years.

Analyst David Buxton at FinnCap said: “In our view, Nigel has done a good job in turning the group round and the company is now in a stronger, more stable position moving forward.”

Mr Rogers became CEO in March 2012. The group said he successfully carried out the disposal of the company’s operations in Poland and South Africa and later, the sale of surplus property assets in the UK.

“Under his direction a very capable senior executive team has been put in place to manage the machine tools, precision engineering components and laser marking businesses in the UK and the USA where an ever-greater proportion of the company’s activities are now taking place. This team will now report to Paul Dupee,” the firm said in a statement.

In an update on trading in the year to March 2015, the group said revenues are expected to be five per cent ahead of prior year, or three per cent on a like-for-like basis excluding the effect of the acquisition of TYKMA Inc. in February.

It said the process of integration of TYKMA and Electrox Laser is progressing very well. All US sales and customer support activities are now managed under a unified structure and plans for future product strategy are largely determined.

Total group profit before taxation is expected to be over £3m, up from £2,48m the previous year.

Mr Dupee said: “The board thanks Nigel for leading the company over last few years and his work in overcoming some of the legacy issues and re-directing the trading activities to achieve greater efficiencies and focus.

“We now have a good position from which to expand into the areas where we can accelerate growth organically and by acquisition, particularly in the USA and I’m looking forward to working with the team to make this happen.”