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600 Group share price jumps on increased order book

600 Group Share Price

The 600 Group share price (AIM:SIXH) surged by 12.8% on Tuesday as the engineering company said its order book rose, while its trading levels during Q1 of fiscal 2022 were robust.

It caps of a busy period for the 600 Group share price. During the first few months of the year it traded sideways between 8 and 9p per share. However, heading into April, there began some big moves upwards. With today’s news taken into account the 600 Group share price is up by 59.76% in the last six months.

Results

A key update which served to support the 600 Group share price on Tuesday is the fact its order book at July 15 came in at $22.5m, up from $14.1m at March 31.

The 600 Group did however see its revenue fall by 20% to $53.5m, which the company put down to the impact of the pandemic on its trading levels.

The company is expecting to announce revenue of $53.5m and EBIT (adjusted earnings before interest and taxes) of $2.5m for the year ended March 31. This is a fall in the figures from fiscal 2020 to $67.2m and $2.7m respectively.

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600 Group will report its earnings for the year ended March 31 by the end of September. This is due to delays caused by the pandemic.

The 600 Group is a distributor, designer and manufacturer of industrial products with three principal areas of activities: Industrial Laser Systems, Machine Tools and Precision Engineered Components.

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