Business
Preliminary Announcement results year to 30/09/21
Preliminary Announcement results year to 30/09/21.
About this update from Titon Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2677W\n Titon Holdings PLC\n 21 December 2021\n \n \n \n \n \n 21 December 2021 LEI:\n \n \n 213800ZHXS8G27RM1DD7\n \n \n \n \n \n \n Titon Holdings Plc\n \n \n \n \n \n Preliminary results for the year to 30 September 2021\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 unaudited preliminary results for the year ended 30 September 2021.\n \n \n \n \n \n Summary Financial Results (unaudited)\n \n \n \n \n \n \n \n \n \n 2021\n \n \n \n \n 2020\n \n \n \n \n \n \n \n Change (%)\n \n \n \n \n \n \n Net revenue\n \n \n \n \n £23.4m\n \n \n \n \n £20.7m\n \n \n \n \n +13%\n \n \n \n \n \n \n EBITDA \n \n \n \n \n £2.0m\n \n \n \n \n £1.0m\n \n \n \n \n +100%\n \n \n \n \n \n \n Group profit before tax \n \n \n \n \n £1.075m\n \n \n \n \n £0.02m\n \n \n \n \n +5,375%\n \n \n \n \n \n \n Basic earnings per share (EPS)\n \n \n \n \n 9.24p\n \n \n \n \n 0.52p\n \n \n \n \n +1,777%\n \n \n \n \n \n \n Full year dividends per share \n \n \n \n \n 4.5p\n \n \n \n \n 2.0p\n \n \n \n \n +125%\n \n \n \n \n \n \n Net cash\n \n \n \n \n £4.79m\n \n \n \n \n £5.57m\n \n \n \n \n -14%\n \n \n \n \n \n \n \n \n \n · \n Net revenue increased 13% to £23.4 million (2020: £20.7 million) as a result of the return of normal trading operations in the UK and Europe following the initial Covid-19 pandemic lockdowns\n \n \n § We enjoyed a full and strong year of trading following the disruption to production suffered in 2020\n \n § Trading in South Korea continued to be weak reflecting challenging market conditions and supply chain issues\n \n · \n Gross margin of 31.4% (2020: 27.4%), back above pre-pandemic levels (2019: 30.2%)\n \n \n · \n EBITDA of £2.0 million (2020: £1.0 million) and Group profit before tax of £1.075 million (2020: £0.02 million) reflecting the recovery in trading and margins\n \n \n · \n Proposed final dividend of 3.0 pence per share, (2020: 2.0 pence) in addition to the interim dividend of 1.5p (2020: nil)\n \n \n · \n Strong balance sheet maintained with net cash of £4.79 million at 30 September 2021 whilst the Group's inventory and trade receivables increased as trading normalised...