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
  0.00 0.0% 8.25 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
7.50 9.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 65.17 4.35 3.75 2.2 10
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 8.25 GBX

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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 8.25p.
600 Group Plc has a 4 week average price of 8.25p and a 12 week average price of 7.75p.
The 1 year high share price is 19.75p while the 1 year low share price is currently 7.08p.
There are currently 117,473,341 shares in issue and the average daily traded volume is 19,633 shares. The market capitalisation of 600 Group Plc is £9,691,550.63.
cjohn: uywell323 Jul '20 - 08:28 - 895 of 896 The Yank that sold his company to SIXH several months ago Celebrating and sleeve his laughing up he must be Seriously doubt that, given that he was partly paid with SIXH shares.......And now works at SIXH!
varies: the delay in producing the results for the year to 31 March 2020 is inauspicious but SIXH has at least obtained some funding under UK and US Covid schemes.
buywell3: The Yank that sold his company to SIXH several months ago Celebrating and sleeve his laughing up he must be
tole: Good to see the price creeping back up since the clearing trade a few days back.
cjohn: Not a bad Covid update.
varies: Whilst this news is unwelcome, it is not altogether surprising. The Chinese shutdown is obviously of great consequence to many industrial businesses all over the world and we will be reminded of this again and again in the coming results season. Besides a reasonable holding in SIXH I have a small one in Tekmar, a company concerned with sub-sea cabling, that I wrongly assumed to be unaffected. It put out a statement a few days ago referring to the shutdown which knocked the share price about 30%. Whilst I would like to have had the sense and the courage to sell many such investments a month ago, I cannot help feeling that the effect of this shutdown will be temporary and that in 3 or 4 months time business activity in China will recover to its previous levels and that the current weakness in such stocks as SIXH will prove to have offered a profitable opportunity for those with strong nerves.
pugugly: MRF_ An even longer shadow cast today- Marked down 18% pre market - but wide spread - "As a result of the market volatility described above and the expected resultant shortfall in revenue against a relatively fixed cost base, the outturn for the full year is now expected to be significantly below the Board's previously revised expectations." Net debt "net debt at the end of September 2019 was $16.9m (March 2019 $14.5m) excluding the IFRS 16 lease liabilitieS" Could now be a major negative for te sahre price - a shame after what looked like an improving revene ande bottom line position.
cjohn: Hi Asagi, It works a little bit like a long-dated call option. (The main difference is that debt holders are being paid to hold the "option".) You'd expect the debt holders to convert to shares when the share price went above 20p and seemed likely to stay above 20p. In view of share price volatility therefore, they'd be unlikely to convert at merely 20p. What's more, as the holders of the debt are receiving a juicy 8% in interest, you'd expect them to have a still higher strike price for converting the debt to shares. For example, if there was a firm takeover approach at a price above 20p, then they would convert. Another example, say in the ordinary course of events, the share price rises to 23p, it would only make sense to convert if you knew you could off-load all your shares at above 20p, which would be unlikely in view of the illiquidity of SIXH.
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.
600 share price data is direct from the London Stock Exchange
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