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Share Name Share Symbol Market Type Share ISIN Share Description
600 Group Plc LSE:SIXH London Ordinary Share GB0008121641 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 14.15p 11,521 08:00:09
Bid Price Offer Price High Price Low Price Open Price
14.00p 14.30p 14.15p 14.15p 14.15p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 66.01 3.87 2.80 5.1 16.0

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DateSubject
26/5/2019
09:20
600 Daily Update: 600 Group Plc is listed in the Industrial Engineering sector of the London Stock Exchange with ticker SIXH. The last closing price for 600 was 14.15p.
600 Group Plc has a 4 week average price of 13.80p and a 12 week average price of 13p.
The 1 year high share price is 19.60p while the 1 year low share price is currently 13p.
There are currently 112,973,341 shares in issue and the average daily traded volume is 16,767 shares. The market capitalisation of 600 Group Plc is £15,985,727.75.
08/4/2019
11:45
cjohn: Hello Buywell 2, you say PPIX hit 20p. Yes, it did hit 20p, but in 2011, three years before SIXH acquired their stake!!!!! SIXH acquired their stake in PPIX in August 2014! They sold out for a price not too far below the market price in August 2017 at 7.25p. Subsequent to that sale, the share price hit a high of just below 11p.
26/3/2019
18:06
cjohn: Hi Buywell, 1. the highest price I can see for Prophotonix shares up until mid-2018 was below 10p. SIXH sold up for 7.25p. Where did that 20p figure you're using come from? 2. What has your post got to do with Perloff's involvement ? Are you saying HE'S responsible for the drop to 13p?
15/2/2018
20:25
kazoom: From that Hardman Q&A : " I do think if the Group is able to secure a cash refund owing to the pension fund surplus then subsequent to paying off any its debt, we are in a scenario of the possibility of restoration of the dividend or special dividend payment." Really???? Even I wasn't that bullish about monetising the Pensions surplus. They also fail to see the elephant in the room - namely that pretty much all of the realisable disposals have been made and they desperately need to generate real cash the HY or else they run out of money. Even though I'm not a holder at this time I do hope they can achieve that, but given that they don't do trading statements it's a long old wait until June to find out in the FY results. For my money the projected revenue growth of 7-8% is nowhere near sufficient to compensate for the risk - particularly at this relatively "lofty" valuation. So I am more than happy to sit on the sidelines and take the chance that this becomes "one that got away". What's going to propel the share price in advance of the results?
01/2/2018
15:48
noirua: Only quietly pushed with a little finger by EK; engineering machinery is a sector that is quite heavy going and affected by exchange rates as an added factor. The share price has been steadily rising from 8p in the last 18 months and that is a good sector performance and beats most. Must not forget it is a micro-cap at around £20m and the 2014 high of 24p looks a reasonable first target - may take awhile though.
21/11/2017
09:04
someuwin: "It’s heart-warming stuff By Evil Knievil 20 November 2017 600 Group (LON:SIXH) this morning report their six months to 30th September 2017. These figures are not stellar but they are very encouraging. There are a couple of exceptional items but, allowing for these, EPS is at 0.8p per share. Doubling this to 1.6p for a full year gives a PE of 10 at 16p. At 16p SIXH is capitalised at £17 million in contrast to tangible net asset value of the order of £38 million. This share price is far too low. 25p would be more in point."
20/9/2017
13:20
kibes: How can they be 'pleased' to announce that they have just undermined the share price by selling shares at 13p, which right now are being offloaded onto the market for anything the buyers can get above 13p.
01/9/2017
08:22
buywell3: SIXH took 7.25p for their ProPhotonix shares ... they traded at 20p earlier in 2017 Many here have made much of the SIXH stake in that company Now SIXH have sold it for a £1M profit to pay down debt To me that says SIXH view debt as a problem that needs urgent attention Why? Watch Prophotonix Ltd (LSE:PPIR) Share Price Alert 7.250 Today's low: 7.250 Sell PPIR 9.750 Today's high: 7.250 Buy PPIR Last trade:8.500 Change: 0.250 (3.03%) Volume:43,701,291 Delayed price:14:51:05 Summary News Discussion Chart... Analysis... Latest trades Time Price Volume Value 14:51:05 7.25 153,198 11,107 11:03:15 7.25 1,531,982 111,069 10:44:37 7.25 4,993,492 362,028 10:37:51 7.25 14,980,476 1,086,085 10:36:42 7.25 14,000,000 1,015,000 10:36:18 7.25 22,042,143 1,598,055
22/8/2017
09:23
cjohn: Hi Buywell, If you said SUN to me, I'd say MOON to you. All best. This is a quick one as I'm on the beach. I want to say a word about pension DEFICITS. I regard pension déficits as a potential source of misvaluation, and hence a potential buying opportunity. I've invested money on a couple of occasions in companies with large and apparently threatening pension déficits. The last occasion was about 5 years ago in Trinity Mirror. A sloppy article in the FT suggested Trinity Mirror's pension déficit was unsustainable. This article was then bandied around like it was gospel. This pushed TNI's share price down to 25p, valuing the company at less than a single year's free cash flow. A no-brainer. The share price subsequently rose to above 200p. (5 years later, TNI's pension funds are still a thorn in its side and a constant drain on cash. But the company still exists. And will probably eventually pay off the déficit.) (Of course, sometimes pension defcits are terminal.) Regarding enterprise value and pension surpluses: the usual ítem that is subtracted from enterprise value is net cash. Obviously, it's much better to have 10m net cash than a 10m surplus on a technical provisions basis. That's a no-brainer. So a discount factor must be applied. It's also better to have 10m net cash than a 10m surplus on a full buy out basis. Why? Because even with that surplus, the chance that the company will actually pull off a buy out is less than a 100% for reasons we've already discussed. Say you estimate the chances of the surplus coming back to the company in this situation is 30%,then it would make sense to subtract 3m from enterprise value, rather than 10m. So what I would be interested in is an estimate by Kazoom or Buywell of what they think is the probability of any money coming back to SIXH from the current technical provisions surplus. My sense is that it's very slight. I admit before the long discussion with Kazoom I thought the chance was negligible. Now association with Kazoom's cheery optimism and dogged plugging away has had its effect and I'd be prepared to go as high as 5%. All the best to both. Enjoy your holidays.
05/7/2017
10:56
kazoom: Hi CJohn - I guess you are probably refering to my assessment of the pension surplus at 9p / share. (6p net of tax). I absolutely agree that it is unlikely to be crystalised and certainly not at near par. But then the same is usually true of most (non-property) non-current assets on balance sheets. So I don't think it is unreasonable to include it in an assessment of the Enterprise Value. I think it is important to consider the EV, because in taking a superficial look at the PE of 8, it is very easy to lazily think - "ah yes PE of 8, but net debt is virtually the same as market cap, so really the PE is about 16". Not true of course, but I think this kind of figure gets into the back of peoples minds. So what is the EV? (Based on yesterdays close and the figures in the AR, my take would be : Shares in issue : 104.4 m Price : 14.5p Market Cap : 15.1 Net Debt : 13.7 Pension : -6.0 (net of tax) PPIX -1.7 (held as an investment not associate) EV 21.2 Earnings PBT (underlying) 2.12 Add back net Int 0.94 EBIT 3.07 Net of tax (19%) 2.48 So an EV/"EBI" ratio (ie the "debt free PE") of 8.5 Using the mark to market SIXH share price and that of PPIX brings the market cap to 16.7 and the PPIX holding to -2.1 so an updated EV of 22.3 and a EV/EBI of 9.0 With a strong order book pressaging growth (accepting as you say that long term visibility is obscure), it might not be unreasonable to consider a ratio of say 12? This would imply a fair value EV of £29.8m translating to a share price of 23.2p - still potentially 50% upside on the current price. (And arguably this is a relatively conservative view). So will we get that upside? Not all of it any time soon I suspect, with the low market cap a "boring" business, debt and lack of dividend together with the perception of this as a "value trap" - it's not easy to see what will attract the wider market. (But a third party bid could be a possibility). There's no indication that dividends are on the managements mind ever, so that looks unlikely to be an "outer". Perhaps delivery of another strong year as the order book might lead us to hope for and the debt starting to come down will act as a trigger. On the basis that I tend to take a three year view, this is still very much a buy in my book, but I suspect it is not racy enough for many.
04/7/2017
15:38
varies: On a closer look at the results I see the answer to my own question. Non-current assets include investments valued at £1,653,000 (cf £496,000 on 31.03.2016). This is obviously the holding in PPIX. I was surprised to see the SIXH share price lose a large part of its gain by 11am and bought some more at 14.2p This looks a sound move as I write and I think that today's figures should attract more interest if reported in the press. None of the newspapers are likely to do so but the Investors Chronicle should. It is a shame that the FT takes so little interest nowadays in smaller British companies.
600 share price data is direct from the London Stock Exchange
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