(MENAFN- ProactiveInvestors - Australia) Stokes Limited (ASX: SKS) is selling its non core Badges business for $200,000 as it continues to restructure and focus on its appliance parts division.
The Badges business, which manufactures badges, medallions & trophies, had achieved annual revenues of about $500,000 and was slightly profitable.
It had been one of the foundation businesses since Stokes' inception in 1856.
A leading independent distributor of appliance spare parts, Stokes had acquired major competitor Grimwood Appliance Parts and raised $2.34 million in December 2012.
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