Business
Interim Results for six months to 31 March 2022
Interim Results for six months to 31 March 2022.
About this update from Titon Holdings Plc
[{"type":"text","content":"\n \n \n \n 12 May 2022 \n \n \n \n \n LEI: 213800ZHXS8G27RM1DD7\n \n \n \n \n \n \n \n \n \n Titon Holdings Plc\n \n \n \n \n Unaudited Interim Results for the six months to 31 March 2022\n \n \n \n Titon Holdings Plc\n (\"Titon\", the \"Group\" or the \"Company\"),\n a leading international manufacturer and supplier of ventilation systems and window and door hardware, today announces its unaudited interim results for the six months ended 31 March 2022 (\"H1 2022\").\n \n \n \n \n \n \n Financial Results\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Six months ended 31 March 2022\n \n \n \n \n \n \n Six months ended 31 March 2021\n \n \n \n \n \n \n % Change\n \n \n \n \n \n \n \n Net revenue\n \n \n \n \n £11.48m \n \n \n \n \n £11.68m\n \n \n \n \n -1.7%\n \n \n \n \n \n \n EBITDA\n \n \n \n \n £0.28m\n \n \n \n \n £1.13m\n \n \n \n \n -75.2%\n \n \n \n \n \n \n (Loss)/Profit before tax \n \n \n \n \n £(0.25)m\n \n \n \n \n £0.55m\n \n \n \n \n n/a\n \n \n \n \n \n \n Basic (loss)/ earnings per share\n \n \n \n \n (1.46)p\n \n \n \n \n 4.29p\n \n \n \n \n n/a\n \n \n \n \n \n \n Interim dividend per share\n \n \n Period-end cash balance\n \n \n \n \n 1.5p\n \n \n £3.73m\n \n \n \n \n 1.5p\n \n \n £4.63m\n \n \n \n \n 0%\n \n \n -19.4%\n \n \n \n \n \n \n \n \n \n \n Financial highlights\n \n \n \n ·\n Group net revenue fell by 1.7% as a result of weaker trading conditions in Korea and reduced European sales, offset by pleasing growth in UK revenues\n \n \n ·\n EBITDA decreased to £0.28 million (H1 2021: £1.13m), reflecting the fall in revenues as well as lower gross margins (28% in H1 2022 against 31.9% in H1 2021) driven by industry-wide input and overhead cost inflation, and component sourcing challenges and some restructuring expenses\n \n \n o \n Price increases were implemented in the period to seek to recover cost increases, with further price increases expected in the second half of the financial year\n \n \n ·\n Loss before tax of £0.25m (H1 2021: profit of £0.55m) after depreciation and amortisation charges of £0.49m (H1 2021: £0.51m)\n \n \n ·\n Cash balance of £3.73m at the end of the period (H1 2021: £4.63m) after the payment of dividends to Titon shareholders, as well as the resumption of capital expenditure following the COVID-19 pandemic and a decision to build inven...