Half Year Results 

Telit’s earnings boosted by automotive sale

Telit’s earnings boosted by automotive sale

Telit Communications’ (TCM) half-year results reflected the benefits of the $105m (£85m) sale of its automotive division in February 2019. The group – an enabler of the ‘internet of things’ – swung into the black, thanks to a $57m boost from the disposal. The deal allows Telit to concentrate on the industrial 'internet of things' market, which it calls “the main driver of digital transformation for enterprises”. It also allowed for a considerable net cash position, following net debt of $34m as at December 2018.

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