Engineering group reports 30% revenue dip as period "heavily impacted" by pandemic

A Yorkshire engineering company has reported that its revenues have dropped by 29 per cent due to the pandemic.

The 600 Group, an industrial engineering company, has seen its revenue dip from $35.7m to $25.4m since the first half of the year, which it says is due to the “significant disruption” caused by coronavirus.

The company’s underlying operating profit also decreased, going from $2.5m to $0.2m.

Paul Dupee, executive chairman of the group, commented: “The reporting period has been heavily impacted by the Covid-19 pandemic.

“However, the group responded quickly to the challenges, reducing costs and keeping our core competencies together.

“The de-risking of the group, both operationally and financially, in the last year has created a platform from which we can leverage the strength of the group’s brands and grow the business into increasingly diversified niche markets worldwide both organically and by acquisition once activity levels normalise.

Whilst short-term macroeconomic uncertainty remains, I am confident that we will come out of this crisis a stronger and leaner business.“

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