The 600 Group has announced that it is looking at potential acquisitions following the successful completion of a turnaround.
Based in Leeds, the engineering firm designs and distributes machine tools and precision engineered components and laser marking systems. In addition to its Leeds centre, the company has operations in Europe, North America and Australia.
A new management group was recently brought in under the guidance of chief executive Nigel Rogers and finance director Neil Carrick. The team has worked successfully to turnaround the company's fortunes. In the year to 30 March, the business recorded pre-tax profits of £3.94 million, a significant improvement on the previous year which showed losses of £14.84 million.
600 Group's efforts offer an inspirational recovery story for other turnaround experts. After carrying out a successful refinancing and capitalising on the company's good name and brand reach, its new owners are now in the position to consider new acquisition prospects.
Paul Dupee, the company's chairman, commented: “Group focus has now moved from the turnaround phase of the first half of the year, towards growth from a stable, profitable and cash generative base.
“Although external market conditions became more challenging towards the end of the year, revenues continued to show a double digit increase through gains in market share, and operating margins improved across each segment of the business.”
600 Group's chief executive, Mr Rogers, added: “Overall, the primary objective of delivering a stable, profitable and cash generative core business has been delivered, and this moves the main emphasis now on the delivery of organic growth, and the assessment of opportunities to expand by acquisition.”
The firm's success demonstrates that a successful turnaround is still possible even in such highly changeable trading climates as now. 
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