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Titon Holdings ( (GB:TON) ) has shared an update.
Titon Holdings has completed the sale of its interests in its South Korean subsidiary, Titon Korea Co. Ltd, and its South Korean associate, Browntech Sales Co. Limited, resulting in the cessation of its South Korean business segment. The sale generated net cash proceeds of £710,178. In its financial update for FY24, the company reported a loss before tax that was slightly better than forecast, with the South Korean entity performing above expectations. The company plans a one-off, non-cash inventory write-off of approximately £1.3m due to excess inventory acquired during the pandemic, which will be treated as an exceptional item in its FY24 results.
More about Titon Holdings
Titon Holdings Plc is a company involved in manufacturing and supplying natural ventilation solutions and products. The company operates primarily in the United Kingdom and has had a significant presence in the South Korean market through its subsidiary and associate companies.
YTD Price Performance: -5.29%
Average Trading Volume: 9,305
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £9M
For detailed information about TON stock, go to TipRanks’ Stock Analysis page.
