Tanfield Group plc (GB:TAN) has released an update.
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Tanfield Group Plc, a passive investment company, has posted its 2023 year-end financial results, maintaining the valuation of its 49% stake in Snorkel International at £19.1m. Despite legal proceedings concerning the stake’s value, the company remains debt-free with £3.5m in cash and is optimistic about Snorkel’s continued sales growth post-Covid-19 downturn. Tanfield Group Plc also holds a non-performing investment in Smith Electric Vehicles, valued at nil, and is focused on maximizing shareholder returns from its investments.
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