Titan's US business continues to advance strongly

Titan's US business continues to advance strongly
Published: 31 July 2015

Tagged Under: business results Titan 

Titan's first-half turnover improved by 19.9 per cent to EUR672.8m, helped by exchange rate movements, and EBITDA was ahead by 18.3 per cent to EUR105.3m. Following an increase in the depreciation charge of a modest 6.3 per cent, the trading profit improved by 35.4 per cent to EUR48.6m. After a net financial charge 10.1 per cent higher at EUR32.7m and other items, the pretax profit jumped from EUR6.7m to EUR30.9m. At the net attributable level the profit jumped from EUR2.9m profit to EUR24.2m. Capital investment was increased by a further 185.7 per cent to EUR82m, after several years of very low levels of spending until last year. Net debt at the end of June was increased by 28.6 per cent to EUR630m to give a gearing level of 40.8 per cent.








 



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