Share Name Share Symbol Market Type Share ISIN Share Description
Titon Holdings Plc LSE:TON London Ordinary Share GB0008941402 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 80.00 9,048 08:00:11
Bid Price Offer Price High Price Low Price Open Price
75.00 85.00 80.00 80.00 80.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 27.16 1.97 12.84 6.2 9
Last Trade Time Trade Type Trade Size Trade Price Currency
09:27:02 O 2,994 83.50 GBX

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Date Time Title Posts
27/3/202011:16Titon : a TITAN?998
12/12/201908:29Titon Holdings2
01/2/201312:17*** Titon ***1
16/1/201323:45Titon Holdings70

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Titon Daily Update: Titon Holdings Plc is listed in the Construction & Materials sector of the London Stock Exchange with ticker TON. The last closing price for Titon was 80p.
Titon Holdings Plc has a 4 week average price of 65p and a 12 week average price of 65p.
The 1 year high share price is 162.50p while the 1 year low share price is currently 65p.
There are currently 11,083,750 shares in issue and the average daily traded volume is 12,558 shares. The market capitalisation of Titon Holdings Plc is £8,867,000.
kenny: Is Titon going to be able to turn things around in the near future? The year to 30 September 2020 could be a loss or, at best, a very small profit. They may need to chop the dividend partially or wholly. The real question is whether this is a permanent change or whether the company can bounce back. I find it concerning that they are suffering across all of their geographies albeit they have a different story to explain the fall off in sales in most of their geographies. Perhaps all will turn out well but I think it could take 2 years before the position is clearer and whether the “story” is as they present it, or represents something else.e.g. a fall off in demand for their particular products. I think the current share price reflects hope value but it may be far too early to know whether that hope is well placed.
jane deer: The results are much better than feared, with solid profit and cash flow (admittedly mostly in 51% held Titon Korea). Good to read that Titon Korea should pay a dividend again to the parent company in H2. I think the share price would really react well if associate company, BTS, were to pay a dividend. The only real downside, I see in these figures is that the Korean accounting restatement is still not fully explained (at least not in a way that was easy for me to understand). I also noted with some trepidation that IFRS16 (leases) has not yet been implemented and the Board are saying that the impact will be material - but then give no quantification at all.
jane deer: Yes solid numbers much as indicated in the AIM conversion document. I am not sure that there is much new here to drive the price forward - would like more disclosure on Korean business. Stock price seems solidly underpinned by cash generation and no doubt this has meant that the share price has been resistant during the latest sell off.
fozzie: Let us hope so. I have held on tightly some would say grimly for a long time now. Share price has been very stable through the turmoil of the last few weeks and moving nicely now.
sonofbanjosinger: Titon offers eastern promiseColchester-based Titon (TON:204p), a small-cap designer and maker of domestic ventilation systems, and door and window hardware, has issued the cracking set of first-half results I had anticipated when I included the shares, at 160p, in my 2018 Bargain Shares Portfolio.Buoyed by a strong performance from its South Korean operations, Titon's pre-tax profits rose by 13 per cent to £1.34m in the six months to the end of March 2018. Moreover, with the benefit of a lower tax charge, EPS were propelled 42 per cent higher to 8.64p. Shareholders are being rewarded with a 17 per cent hike in the dividend to 1.75p a share, highlighting the directors' confidence, and the fact that net cash on the balance sheet is worth 25p a share.Titon's 51 per cent-owned South Korean subsidiary, Titon Korea, manufactures natural window ventilation products and boasts a 75 per cent share of the national market. Revenues here surged by a quarter to £5.7m, accounting for 40 per cent of Titon's first-half turnover of £14.5m, and at a healthy margin, too. Demand for its products in South Korea has been driven by three main factors: the introduction of building regulations for ventilation which specify that new houses and apartments have to be adequately ventilated; preference for the use of natural ventilation products over mechanical ventilation by major South Korean social housing authorities; and the adoption of use of natural ventilation products by the private housebuilding sector in order to reduce construction costs.Titon also owns a 49 per stake in an associate company, Browntech Sales, which distributes ventilation products, and generates additional revenue through residential property development activities in Seoul. Combined, the South Korean operations reported a bumper pre-tax profit of £1m in the first half. The economic and geopolitical back drop in the region is also encouraging.Not only is the South Korean economy forecast by economists to deliver economic growth of 2.9 per cent this year and next, but chairman and 8.9 per cent shareholder Keith Ritchie rightly points out that "the geopolitical climate has taken an extraordinarily positive shift with the recent summit between South Korean president Moon Jae-in and North Korea's leader Kim Jong-un. This was unthinkable at the turn of the year and has been welcomed in Asia and around the Globe. It remains to be seen whether full denuclearisation in North Korea will follow, but this new openness, and a prospective meeting between Donald Trump and Kim Jong-un, is very good news."The UK business has proved no slouch, either. Operating as a leading supplier of background ventilators in a market where air tightness standards for buildings is supported by changes in UK building regulations, Titon offers low-energy mechanical ventilation systems, and a comprehensive design service to its customers. Divisional first-half pre-tax profits increased by a third on an underlying basis to almost £0.5m, albeit this was a reflection of margin rather than revenue growth.Admittedly, export sales in Europe and the US were subdued, but the strength of Titon's UK and Korean operations means that the company is trading in line with profit forecasts from analyst Tony Williams at Hardman & Co, who predicts pre-tax profits will rise by 13 per cent to £2.8m in the 12 months to the end of September 2018 to deliver EPS of 17.7p and support a 17 per cent hike in the annual dividend to 4.8p a share. On this basis, Titon's shares are priced on a forward PE ratio of 10 net of cash on the balance sheet and offer a 2.3 per cent prospective dividend yield. That's hardly expensive for a company set to post record results for the fifth year in succession, and with a decent chance of delivering over £3m of pre-tax profits next financial year, too.So, having seen the Titon's share price pullback from a 24-year high of 222p on modest profit-taking, I feel that a move above the September 1993 high-water mark of 240p
sonofbanjosinger: I would not expect anything from the AGM. I also don't know if any of the trades are due to re-investment of dividends yet as the dividend has to be voted in at the AGM. The most notable thing, that has happen to this share was getting into the IC magazine which will hopefully increase the share price to a proper valuation due to a wider audience of smaller investors being interested.
impvesta: The AGM was due to start at 11:00 am today. I was hoping they might release an AGM statement but nothing yet and there wasn't one last year. Share price action is certainly good at the moment anyway!
welsheagle: Are improved Korean relations improving the share price.
jaknife: PUGUGLY, marginal differences as slightly different no. of shares: £17,735,000 MC @162.5p mid 10,913,750 number of shares in issue (10,963,750 less 50,000 in treasury, RNS 1 Feb 2017) £2,710,000 net cash £15,025,000 MV EX CASH (EV?) 24.8 Cash per share 137.7 Share price ex cash 162.5 Share price 12.18 eps 13.34 p/e inc cash 11.31 p/e ex cash
pugugly: I make it - assuming same 2nd half (i.e eps 1st half doubled) Can any accountant double check me £17,700,000 MC 10,878,695 number of shares £2,710,000 cash £14,990,000 MV EX CASH 25.0 Cash per share 135.0 Share price ex cash 160 Share price 12.18 eps 13.14 p/e inc cash 11.08 p/e ex cash
Titon share price data is direct from the London Stock Exchange
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