Titon Holdings Plc ("Titon" or the
"Group"), the UK ventilation systems and windo w
and door hardware manufacturer, today publishes its Interim
Management Statement for the period 1 October 2011 to date as
required by the UK Listing Authority's Disclosure and
Transparency Rules.
Total Group revenues for the quarter to 31 December 2011 were
1% lower than for the corresponding period last year, with
sales in the UK 3% higher and sales in the rest of the world
do wn 13%.
As reported at the time, UK construction activity was
adversely affected by the very severe weather during December
2010. This has not been the case this year and is a factor in
the slightly improved UK sales levels. Despite this,
conditions within o ur key markets of house building and
window manuf acturing remain extremely difficult and margins
remain under pressure thro ugh greater levels of competition.
It is of some encouragement that a number of UK house
builders have recently reported improved results, which is a
necessary starting point for a potential increase in
confidence across the sector.
Outside of the UK sales have fallen across most of the
markets in which we operate, including at our So uth Korean
subsidiary where pro ject delays have resulted in a 13%
reduction in output.
Net Cash balances at the 31 December 2011 were £2.4 millio n
compared to £2.8 millio n at the 30 September 2011 year
end.
25 January 2012
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| Documents associés | |
| Interim Management Statement |