AGM Trading Update
H1 FY26 revenue 3% ahead year-on-year; full-year profits anticipated in line with Board expectations.
vs expectations: in line
- H1 FY26 revenue vs prior year approximately 3% ahead
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Titon Holdings plc ("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 2025 to 18 March 2026. The Group's current financial year is to 30 September 2026 ("FY26").
Group revenue for the six months ending 31 March 2026 is expected to be approximately 3% ahead of the same period in the prior year.
The Mechanical Ventilation Systems business unit has continued to deliver strong double-digit revenue growth. As noted at the time of the Group's FY25 final results, the Group saw some product mix and margin effect from building safety regulatory bottlenecks which reduced early-stage construction activity in the first half, but the business remains well positioned to expand margins as project starts resume.
In the UK residential construction and fenestration markets, which particularly affect our Window and Door Hardware business, softer demand conditions persisted during the second quarter and, as a result, the Group expects FY26 sales in this unit to decline year on year. However, operational initiatives have supported margins, and we continue to strengthen product competitiveness, service quality and commercial execution which should benefit the Group as market activity improves.
While first-half performance was softer than expected, reflecting subdued conditions in the UK construction and fenestration markets, the Board anticipates a stronger second-half weighting to FY26. This outlook is supported by the ongoing easing of building safety regulatory constraints, and the conversion of a growing pipeline of recent project wins into higher-value Mechanical Ventilation system revenues.
Accordingly, the Board continues to expect the Group to achieve full year revenue and profits in line with its expectations.
Further details on trading for the period to 31 March 2026 will be provided with the publication of the Group's interim results on 30 April 2026.
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