Heckmondwike firm's £6.1m loss (From Bradford Telegraph and Argus)

Heckmondwike firm's £6.1m loss

11:33am Tuesday 1st December 2009 in

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Heckmondwike-based machine tool manufacturer 600 Group suffered an operating loss before exceptional items of £1.7m in the second half-year, compared with profits of £200,000 the previous year.

But, even though revenue in the six months to September 26 were 49 per cent lower at £22.7m, it says a successful transformation plan had stabilised the business and the first signs of recovery were being seen in some markets.

The group’s Spen Valley site has become its European hub and is set for expansion as markets recover.

The UK’s largest machine tool company, which has global operations, will implement further cost savings in its final quarter but said its turnaround strategy had stabilised the business.

600 Group recorded a loss before tax of £6.1m compared to an £800,000 loss in 2008.