The Titon Holdings Directors are proposing a final dividend of 0.5 pence per share (2022: 0.5 pence). The total dividend for the year will therefore be 1.0 pence per share (2022: 2.0 pence). If approved by shareholders at the forthcoming Annual General Meeting on 26 March 2024, the dividend will be payable on 5 April 2024 to shareholders on the register at 23 February 2024. The ex-dividend date is 22 February 2024.
Other financial highlights include:
Net revenue increased by 1.1% to £22.33 million (2022: £22.09 million)
Gross margin of 26.5% (2022: 26.4%) as input cost inflation abated and customer price increases were implemented to maintain margins.
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.
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.
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 £7.96 million (2022: £7.59 million).
