Politics

600 Group takes govt loan, delays results as business orders down 15% on last year

600 Group PLC (LON:SIXH), the industrial engineer, said it has secured a £1.2mln new term loan under the government CLBILS scheme as the groups operations continue to see reduced activity as a result of the coronavirus pandemic.

The AIM-listed company, which was one of the first UK companies to report effects of the pandemic back in Feburary, said it has been given permission the stock listing authorities to delay the publication of its results for the year to end-March 2020 from the September 30 deadline for three months at most, due to the effects of the virus.

Government restrictions on working and movement continue to impact the company in all regions where it operates, though it said the level of order backlog has returned to “acceptable levels, given the circumstances”, now down 15% on last year.

All sites are operational, though, with operating procedures modified, PPE usage increased and building changes made, while costs are being limited through the use of government support schemes in the UK and US, with some staff still on furlough and salary reduction schemes in place for many employees.

The UK machine tool business has taken out a thRead More – Source

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