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| Sales continue to decline at Titon |
| Written by Sam Fountain | |
| Thursday, 21 February 2008 | |
|
Ventilation systems and window fittings maker, Titon Holdings has said that there has been no significant change in its position, with sales declining by 3.5 per cent.
The troubled Colchester-based firm said that overall revenues for the three months from October to December 2007 were 3.5 per cent lower than for the same period last year. In August, Titon said that the impact of the changes in building regulation guidance on ventilation and higher material costs had driven its pre-tax profts down, causing it to issue a profits warning. In an interim management statement, it said that there have been no other significant changes in the position of the group since the publication of its report and accounts for the year ended September 2007. It said that growth in the group's powered ventilation systems and aluminium fittings markets had helped to offset a reduction in timber/PVCu fittings and export sales. It also said that the measures aimed at restoring profitability it reported introducing at the year end are beginning to impact favourably, although further evidence of the impact will seen in the second quarter. Shares in the company remain unchanged at 57p, less than half the value it held before the profits warning six months ago.
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