Share Name Share Symbol Market Type Share ISIN Share Description
600 Group LSE:SIXH London Ordinary Share GB0008121641 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 16.50p 0 08:00:00
Bid Price Offer Price High Price Low Price Open Price
16.00p 17.00p 16.50p 16.50p 16.50p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 47.03 3.23 1.97 8.4 18.6

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Date Time Title Posts
06/7/201809:57The conditions are perfect for the contrarian investor746
01/7/201802:57600 Group (SIXH) One to Watch on Monday -
14/4/201412:43600 Group- not so impressive74
11/8/201310:59Mr Bluesky's Week ahead.231
11/9/200906:15Fresh News - Good Recovery Play1

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600 Group Daily Update: 600 Group is listed in the Industrial Engineering sector of the London Stock Exchange with ticker SIXH. The last closing price for 600 Group was 16.50p.
600 Group has a 4 week average price of 15p and a 12 week average price of 15p.
The 1 year high share price is 17.20p 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 3,506 shares. The market capitalisation of 600 Group is £18,640,601.27.
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?
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.
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."
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.
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
kazoom: Harsh MRF and not very realistic imho - I think the volume of shares they had we equivalent to two or more YEARS of normal trade volumes. Even it were possible to drip them out, it would have taken an age and probably in fact trashed the share price.
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.
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.
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.
noirua: EK in a paragraph recently written about SIXH appeared bemused by the low share price. Said there might be something we don't know that is the reason. I think it might be just because the company is in plain old engineering which is boring for most people who see themselves with more technological minds. Years ago Alfred Herbert Engineering went to the wall and was bought by the Government - it was boring then and still is. Until of course an unexpectedly good RNS arrives and they all pile in regardless.
600 Group share price data is direct from the London Stock Exchange
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