The 600 Group, the UK’s largest maker of machine tools, is pursuing an aggressive acquisition strategy despite recording a £1.5m fall in profits last week.
Expansion through acquisition in continental Europe and North America is its aim over the next two years.
Group financial director John Fussey said: ‘The figures show we have a net cash balance which puts us in a strong position to pursue our policy of acquisition in major markets.’
Net disposable assets amount to £84.7m. Cash accounts for £18.7m.
Fussey said the most likely acquisition targets were established companies that made machine tools or their parts.
Finance, page 10