REG - Titon Holdings PLC - AGM Trading Update

Titon HoldingsAnnouncement

25/03/2025 07:00

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RNS Number : 9152B  Titon Holdings PLC  25 March 2025

LEI: 213800ZHXS8G27RM1D97

25 March 2025

 

Titon Holdings Plc

 

AGM Trading Update

 

Titon Holdings Plc ("Titon", the "Company" or the "Group") is holding its
Annual General Meeting ("AGM") at 10am today at the Group's premises at
Falconer Road, Haverhill, CB9 7XU. In connection with the AGM, the Group
provides the following trading update for the period from 1 October 2024 to 24
March 2025. The Group's current financial year is to 30 September 2025
("FY25").

Current trading

The Group is pleased to confirm that trading during the period to 24 March
2025 has continued to be slightly ahead of the Board's expectations,
consistent with the first quarter performance reported in the Group's FY24
full year results on 23 January 2025. Net operating loss before tax and EBITDA
have continued to show an improved trajectory compared to the last two
financial years, and the Group has generated positive cash flows during FY25
to date.

Our balance sheet and cash reserves remain strong, supported by disciplined
working capital management. Additionally, the order book has continued to grow
throughout the first half of the financial year, providing a solid foundation
for sustained progress.

 

Outlook

Despite the continued market headwinds, we remain encouraged by the positive
progress achieved across our business.

Over the past twelve months, we have substantially strengthened our Senior
Leadership Team, with these strategic appointments now largely complete.
Additionally, the ongoing implementation of multiple business enhancement
programmes is delivering meaningful improvements on our financial performance.

Looking ahead, we remain confident that the successful execution of our
turnaround strategy will sustain positive momentum, driving growth in sales
and further enhancing our financial results.

Accordingly, with an improved trading performance in the first half of the
year, a growing order book and promising indications from our turnaround
strategy, the Board maintains its optimism in the outlook for the Group, and
continues to expect the Company's FY25 performance be in line with its
expectations.

Tom Carpenter, Chief Executive commented:

"I am pleased with the progress we are making across the business. Whilst the
market outlook for 2025 remains challenging, we have built momentum that is
enabling us to take meaningful steps forward in Titon's performance.

As we continue to execute our turnaround strategy, I am confident that we will
continue to improve both sales and financial performance. However, we
recognise there is still work to be done, and I would like to thank our staff
for their continued dedication and commitment."

 

 

For further information please contact:

 

 Titon Holdings Plc                             Tel: +44 (0)1206 713800

 Tom Carpenter, Chief Executive
 Carolyn Isom, Chief Financial Officer

 Shore Capital - Nominated Adviser and Broker   Tel: +44 (0)20 7408 4090

 Daniel Bush

 Tom Knibbs

 

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