Business
Annual Financial Report year ended 30 Sept 2023
Annual Financial Report year ended 30 Sept 2023.
About this update from Titon Holdings Plc
[{"type":"text","content":"\n\n25 January 2024 LEI: 213800ZHXS8G27RM1D97\n \nTiton Holdings Plc\n \nFinal results for the year to 30 September 2023\n \nTiton Holdings Plc (\"Titon\", the \"Group\" or the \"Company\"), a leading international manufacturer and supplier of ventilation systems, and window and door hardware, announces its audited final results for the year ended 30 September 2023 (\"FY23\").\n \nSummary Financial Results*\n\n\n\n\n \n\n\nFY23\n\n\nFY22\n \n\n\nChange (%)\n\n\n\n\nNet revenue\n\n\n£22.33m\n\n\n£22.09m\n\n\n1.1%\n\n\n\n\nUnderlying** EBITDA \n\n\n£0.43m\n\n\n£0.14m\n\n\n207.1%\n\n\n\n\nUnderlying** Group loss before tax\n\n\n£(0.80)m\n\n\n£(0.60)m\n\n\n-33.3%\n\n\n\n\nLoss per share\n\n\n(6.01)p\n\n\n(3.89)p\n\n\n-54.5%\n\n\n\n\nFull year dividends per share\n\n\n1.0p\n\n\n2.0p\n\n\n-50.0%\n\n\n\n\nNet cash\n\n\n£2.24m\n\n\n£1.73m\n\n\n29.5%\n\n\n\n\n \n· Net revenue increased by 1.1% to £22.33 million (2022: £22.09 million)\n· Gross margin of 26.5% (2022: 26.4%) as input cost inflation abated and customer price increases were implemented to maintain margins.\n· Underlying EBITDA of £0.43 million (2022: £0.14 million) as trading in UK and Europe through to the end of FY22/23 surpassed the Group's expectations.\n· Underlying Group loss before tax of £0.80 million (2022 loss before tax: £0.60 million), principally reflecting on-going weaker trading conditions in South Korea.\n· Proposed final dividend of 0.5 pence per share (2022: 0.5 pence) in addition to the interim dividend of 0.5p (2022: 1.5 pence).\n· Strong balance sheet maintained at the period end with net cash of £2.24 million, no financial debt, net assets of £14.76 million at 30 September 2023 (2022: £15.95 million) and net current assets of...