26th Feb 2019 12:45
LONDON (Alliance News) - Restore PLC on Tuesday said it sold ITP, its toner cartridge recycling business, to Ink & Toner Recycling Ltd for a 40% stake in that company.
After the sale, Restore will be represented on Ink & Toner's board.
Restore will treat ITP Group , which generated revenue of GBP4 million and a small operating loss in 2018, as a discontinued activity.
"The sale of ITP enables us to focus on the core IT hardware lifecycle management activities within our Restore Technology business. The combination of ITP and Ink & Toner creates an enlarged business that is better placed to grow and deliver increased value for Restore," Chief Executive Officer Charles Skinner said.
Restore shares were flat on Tuesday around midday at 281.00 pence each.
Related Shares:
Restore