Titon Holdings (GB:TON) has released an update.
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Titon Holdings PLC has reported a 24.6% drop in net revenue to £9.1m and a pre-tax loss of £0.7m for the first half of 2024, attributed to the declining new build residential market. Despite challenging conditions, the company saw project wins in its high margin ventilation systems and maintained a strong cash balance with no debt, but has temporarily suspended dividend payments to focus on strategic growth. The leadership team remains optimistic about improving sales and profitability in the latter half of the year, supported by a robust balance sheet and product range.
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