Window and ventilation specialist feels the cool wind of a slowing market.
Titon Holdings has announced a 1.6% fall in profits to £559,000 for the six months ending 31 March 2005. Turnover fell 6.1% to £7.9 million compared to the same period a year ago.
Citing a slowing in the UK market as the reason for the fall in sales, Titon said that it did not expect conditions to alter significantly in the coming six months in the UK market.
Chairman John Anderson said: “Despite the slight decline, there are some sectors of our operations that are showing solid progress, including some of our export markets.”
Looking forwards, he said: “I anticipate that full-year earnings will be broadly similar to last year. If, thereafter, market conditions improve we are well-placed to achieve profit growth.”