12th May 2022 11:59
Titon Holdings PLC - Essex-based ventilation and hardware manufacturer and supplier - Swings to a pretax loss of GBP250,000 in the six months to March 31 from a profit of GBP549,000 a year before. Blames this on administrative expenses, which rose 8.7% to GBP2.5 million from GBP2.3 million, and on lower revenue. Reports net revenue of GBP11.5 million, down 1.7% from GBP11.7 million a year before. Blames this on weaker trading conditions in Korea and reduced sales in Europe. Declares interim dividend of 1.5 pence, unchanged from a year before. Says trading in the second half remains "subdued" due to component shortages. Expects these conditions to continue in "the immediate term".
Current stock price: 79.20 pence, down 12% on Thursday
12-month change: down 40%
By Abby Amoakuh; [email protected]
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