Ferguson said roughly $20 million of cost reductions began to flow through, improving Titan’s operating margins and narrowing losses in EMEA, which he said produced a small profit in December. He also highlighted cash generation, citing $60 million of cash with a fourth-quarter inflow driven largely by working capital improvements, including inventory down 20% year over year.Finance Director Bruce Ferguson reported provisional year-end results, describing a “good, solid performance” that included a record f ...