Business
Preliminary Results - year en
Preliminary Results - year en.
About this update from Titon Holdings Plc
[{"type":"text","content":"\n RNS Number : 6241X Titon Holdings PLC 09 December 2010 \n \n\n \n \nTiton Holdings Plc\nPreliminary Announcement for the year ended 30 September 2010\n \n \nChairman's Statement\n \nFinancial Performance\nFollowing two years of losses in the aftermath of the global recession, I am pleased to report a return to profitability during this year. Net Profit before Taxation for the year to 30 September 2010 was £606,000 (2009: loss £210,000), achieved on increased Revenues of £15.6 million (2009: £14.1 million). Earnings per share for the year were 3.85p (2009: loss 1.91p).\n \nNet Cash Balances at the year end were relatively unchanged at £3.11 million (2009: £3.10 million) with cash generation over the year restrained partly by the increase in working capital at our South Korean manufacturing operation. Capital Expenditure levels have also increased to £0.50 million this year (2009: 0.26 million) as a result of investment in new IT systems and in new products to be launched in 2010/11.\n \nReflecting the improved results but acknowledging the still difficult times ahead, the Directors are proposing a final dividend of 1.25p per share (2009: 1.0p). This, when added to the interim dividend paid on 24 June 2010 gives a total for the year of 2.25p (2009: 2.0p). If approved by shareholders at the forthcoming Annual General Meeting, the dividend will be payable on 22 February 2011 to shareholders on the register on 21 January 2011. The ex dividend date is 19 January 2011. The Directors have previously noted the importance of the level of dividend paid to shareholders and, subject to financial performance, intend to adopt a progressive dividend policy going forward. \n \nTrading Commentary\nAlthough trading conditions in many of our markets remain subdued, we are pleased to report a satisfactory outcome to the financial year. Building on the £102,000 Profit before Tax reported at the half year, we have seen steady growth in certain key areas of the business over the second half resulting in the increased profit levels now being reported. The overall increase in Revenue over the year was 11.1%, with a 9.2% improvement in the first half and 12.8% in the second half. Sales of own manufactured products have been boosted by growth at our South Korean subsidiary and now acc...