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LONDON (Alliance News) - Titon Holdings PLC said Thursday profit climbed 13%, while net revenue rose 3%, led by the company's Korean business.
The ventilation systems and door hardware company said pretax profit for the six months to March 31 grew 13% to GBP1.34 million from GBP1.18 million a year before. Net revenue increased 3.6% on the previous year to GBP14.5 million from GBP14.0 million.
Titon lifted its interim dividend by 17% to 1.75 pence per share from 1.50p last year.
Operations in South Korea recorded the highest growth, as net profit after tax rose by 22% to GBP900,000.
In the UK, both revenue and profit rose due to the absence of last year's business closure costs, and the company said it expects demand to increase through the summer. In the year-earlier half, Titon recorded business closure costs of GBP370,000.
Titon shares were down 0.5% at 197.50 pence Thursday afternoon.
