Business
Final Results for year ended 30/09/2020
Final Results for year ended 30/09/2020.
About this update from Titon Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7058L\n Titon Holdings PLC\n 14 January 2021\n \n \n \n \n \n 14 January 2021 LEI:\n \n \n 213800ZHXS8G27RM1DD7\n \n \n \n \n \n \n Titon Holdings Plc\n \n \n \n \n \n Final results for the year to 30 September 2020\n \n \n \n \n \n Titon 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 2020.\n \n \n \n \n \n Summary Financial Results\n \n \n \n \n \n \n \n \n \n 2020\n \n \n \n \n 2019\n \n \n \n \n \n \n \n Change (%)\n \n \n \n \n \n \n Net revenue\n \n \n \n \n £20.7m\n \n \n \n \n £27.2m\n \n \n \n \n -24%\n \n \n \n \n \n \n EBITDA \n \n \n \n \n £1.0m\n \n \n \n \n £2.4m\n \n \n \n \n -58%\n \n \n \n \n \n \n Group profit before tax \n \n \n \n \n £0.02m\n \n \n \n \n £1.97m\n \n \n \n \n -99%\n \n \n \n \n \n \n Basic earnings per share (EPS)\n \n \n \n \n 0.5p\n \n \n \n \n 12.8p\n \n \n \n \n -96%\n \n \n \n \n \n \n Full year dividends per share \n \n \n \n \n 2.0p\n \n \n \n \n 4.75p\n \n \n \n \n -58%\n \n \n \n \n \n \n Net cash\n \n \n \n \n £5.57m\n \n \n \n \n £4.59m\n \n \n \n \n +21%\n \n \n \n \n \n \n \n \n \n · \n Net revenue declined 24% to £20.7 million (2019: £27.2 million) as a result of the COVID-19 pandemic in the UK and weak market conditions in South Korea\n \n \n § \n As previously announced, and consistent with companies across the sector, UK factory operations were suspended for over four weeks in Spring 2020, with production operations rebuilding steadily in H2\n \n \n § \n Trading in the final quarter to 30 September 2020 recovered strongly and ahead of the Board's expectations, only 9% down on the same period in 2019\n \n \n · \n Positive EBITDA of £1.0 million (2019: £2.4 million) \n \n \n · \n Group profit before tax of £0.02 million (2019: £1.97 million) despite the disruption to trading \n \n \n · \n Proposed final dividend of 2.0 pence per share, (2019: 3.0 pence) reflecting the receipt of dividends from Titon Korea of £658,000. No interim dividend was declared in the period\n \n \n · \n Strong balance sheet position - net cash at 30 September 2020 increased by £0.98m, to £5.57 million, as the Group took actions to pre...