Business
Preliminary Results 30/09/05
Preliminary Results 30/09/05.
About this update from Titon Holdings Plc
[{"type":"text","content":"\n Titon Holdings PLC\n08 December 2005\n\n\nTITON HOLDINGS PLC\nPreliminary Results for the year ended 30 September 2005\n\n\nCHAIRMAN'S STATEMENT\n\nFinancial Performance\nI am pleased to report that profit before taxation for the year to 30 September\n2005 was up by 11.1% at £1.18 million (2004: £1.06 million). The improvement in\nprofit was achieved on a relatively unchanged turnover of £16.44 million (2004:\n£16.40 million). Earnings per share are up by 12.5% at 8.09p (2004: 7.19p).\n\nNet cash as at 30 September 2005 was £3.36 million (2004: £3.31 million) and\nthe Directors are proposing a final dividend of 4.8p per ordinary share (2004:\n4.8p), making a total of 7.1p for the year (2004: 7.1p). The dividend will be\npayable on 24 February 2006 to shareholders on the register on 3 February 2006.\nThe ex-dividend date will be 1 February 2006. The Directors recognise the\nimportance of the dividend to many shareholders and are committed to maintaining\nthe current level of dividends provided that the Company's financial position\nallows.\n\n\n\nTrading Commentary\nSales into our traditional UK window market have fallen slightly this year as\nthe demand for windows has reduced in line with the general slow down in the\neconomy. The indications are that this downturn is across certain market\nsegments and has affected both timber and PVCu manufacturers.\n\nOur improved profit performance has been assisted by the measures taken last\nyear to reduce our cost base and improve our manufacturing efficiency. The\nreadily available supply of products from outside the UK dictates that ongoing\nreductions in manufacturing costs must continue if we are to substantially\nmaintain our manufacturing base in this country. To this end, we have invested\nin further significant automation of our production and packaging processes,\nwhich will continue in 2006. In parallel with UK manufacturing investment, we\nwill continue to seek cost effective supply options from overseas where \nappropriate.\n\nTowards the end of the reporting period we have actively pursued a policy of\ninvestment in our Sales and Marketing activities. Our Commercial team, with its\nfocus on the less price sensitive aluminium window market, has been expanded by\nthe provision of two additional sales personnel. Similarly, we are building on\nthe early signs of promise...