UK's Titon Holdings slump on bleak full-year forecast
22/07/2022 08:17
** Shares of ventilation systems manufacturer Titon Holdings
TITN.L fall 15.1% to 70p, headed for worst day since May 12
** TITN says results for financial year will be lower than
its prior expectations urn:newsml:reuters.com:*:nRSV3680Ta
** Co says it continues to see margin erosion from price
increases for materials, components, labour and energy
** Adds trading also affected by "unforeseen operational
impacts" from implementation of new internal ERP system for UK
and European operations
** "We are working very hard to increase the output of our
Ventilation Systems products as supply shortages ease" - Titon
** TITN touches its lowest since May 13
(Reporting by Muhammed Husain in Bengaluru)
((Muhammed.Husain@thomsonreuters.com;))