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Titon Holdings has reported a 4.1% increase in net revenue in the six months to the end of March 2021 as the impact of the Covid-19 pandemic reduced and activity picked-up in its UK and European end markets.
The company said sales in these markets were up 16.6% during the period.
EBITDA increased to £1.13 million and was slightly ahead of budget, reflecting the growth in revenues as well as higher gross margins, while pre-tax profit was £0.55m after depreciation and amortisation charges of £0.51m.
The company has a cash balance of £4.63m at the end of the period after the resumption of dividends paid to Titon shareholders, as well as further dividend payments to minority shareholders of Titon Korea.
The board has approved the 1.5p interim dividend, which is to be paid on 25 June 2021 reflecting the improved trading results.
At 8:37am: (LON:TON) Titon Holdings PLC share price was 0p at 86p