Final Results - Year Ended 30 September 1999

Titon Holdings PLC
9 December 1999


                      TITON HOLDINGS PLC
                  PRELIMINARY RESULTS FOR THE
                 YEAR ENDED 30 SEPTEMBER 1999
                     Chairman's Statement
                               
BOARD CHANGES

As  stated in my interim report, it was with great sadness that
I  recorded  the passing of our Chief Executive, Peter  Farrar.
Having  been  involved in developing many of the policies  that
have  contributed  to the success of Titon,  the  key  role  he
played  through the years was an inspiration to us all, and  he
will be sadly missed.  I will carry on the role of Chairman and
Chief   Executive  until  further  notice,   supported   by   a
restructured and enlarged management team offering a  blend  of
mature experience and fresh ideas.

I  am pleased to announce the appointment of Peter Fitt as  our
new   Vice   Chairman.   Peter,  an  Independent  Non-Executive
Director  for  almost  12  years, has supported,  and  provided
guidance during our recent changes, and will continue to  offer
Titon  the  benefit  of his great experience  gained  in  local
industries.

To emphasise the importance of sales to our Group, I am pleased
to  announce  the appointment of Chris Martin to the  Board  of
Titon  Holdings Plc as Sales Director.  Chris has been employed
with Titon for 16 years, and his enthusiasm and experience will
be a welcome addition for the future.

FINANCIAL RESULTS

I am pleased to report a further improvement in our results for
the  year ended 30th September 1999.  Pre-tax profits of £2.025
million were up by 14.3% (1998: £1.772 million), on turnover up
8.9%   at  £14.461  million  (1998:  £13.285  million).   Basic
earnings  per  share were 12.51p, an increase of  14.5%  (1998:
10.93p).

Over  the  past  eleven years, the Group has been  involved  in
legal action in France, where a Belgian based company infringed
copyright on several of our product lines.  I am pleased to say
that this action has come to a successful conclusion during the
year,  and has resulted in us receiving the sum of £124,000  in
costs,  damages and interest.  This has had a favourable impact
on the results for the year.

Capital  expenditure  for the year was  up,  at  £0.75  million
(1998:  £0.47 million), and will rise further this year  as  we
increase  our  production  capacity  with  a  further   factory
extension  and equipment.  Net cash balances at  the  year  end
were  down  by  £1.49  million at £3.67  million  (1998:  £5.16
million),  following payment of the special dividend  of  £1.54
million.

The  Directors  are  proposing a final  dividend  of  4.3p  per
ordinary share (1998: 3.6p plus the special dividend of 14.0p).
When  added  to  the  interim dividend, this  makes  the  total
dividend  for  the  year  20.4% higher  at  6.5p   (1998:  5.4p
excluding the special dividend).

The dividend will be paid on 24th February 2000 to shareholders
on the Register on 21st January 2000. The ex-dividend date will
be 17th January 2000.

SALES COMMENTARY

Group sales this year have seen the benefit of an improved home
market,  showing  a 5.5% growth in Titon product  sales  and  a
16.9%  increase in products bought in from other manufacturers.
Sales  of  ventilation  products  remained  strong  in  a  very
competitive  market place, and products in our extensive  range
of  window  and  door hardware continued to  show  satisfactory
improvement.   Our  recent re-organisation has  enabled  us  to
strengthen  our  commitment of service  to  the  customer,  and
improved marketing aids at our disposal have provided the sales
team with the resources necessary to achieve continued success.

Our  export sales for the year of £0.985 million (1998:  £1.095
million)   reflects  the  need  for  change  in  our  marketing
approach.  It  is expected that, with our current restructuring
and  with  greater emphasis on this aspect of our business,  we
will see export sales start to improve.

MANUFACTURING

We   continue  to  support  our  Company  growth  with  further
investment  in  our manufacturing facilities.  Currently  under
construction, and due to be commissioned during March 2000,  is
a further extension to our main factory at Haverhill.  Covering
1,500  square  metres, this development will  enable  Titon  to
rationalise and to replace two of our smaller rented units.  As
well as improving operating efficiency, this addition will also
provide increased production capability to support rising sales
within the Group.

We  have also continued to invest in technical expertise,  with
machines  designed by our own engineers playing  a  significant
part  in  our  efforts to reduce unit costs on certain  product
lines.

PERSONNEL

Due  to our improving sales, we have seen a slight increase  in
the  number of employees.  Although the extra staff are  mainly
part  time, we have also invested in full time staff  in  areas
where we considered further strengthening was necessary.

In March 1999, three new appointments were made to the Board of
our  main operating subsidiary, Titon Hardware Limited.  Julian
Wiseman  as  Commercial Director, Tyson Anderson  as  Marketing
Director,  and  Tony  Gearey as Project  Director.   These  new
appointments  will  strengthen  our  management  team  for  the
future,  to  assist  the growth and continued  success  of  the
Company.

Once more the Board wishes to thank all employees of Titon  for
their  continued and appreciated efforts throughout  the  year,
and their contribution to the results achieved.

PROSPECTS

With  low interest rates, falling unemployment and with the  UK
economy  remaining  buoyant, we anticipate that  our  principal
markets  of social housing refurbishment and new house building
will remain strong in 2000.

Whilst the investment in our Sales and Marketing Division  will
show  benefits  over  the longer term, the  investment  in  our
Manufacturing  Division will reduce production costs  over  the
coming year.

The  success  of Titon has largely come through  innovation  in
products, and I am pleased to announce that we will shortly  be
introducing our new range of window furniture under the already
successful  'Select' name.  This range will further  strengthen
and improve the product options that we offer to our customers,
and   will   continue  to  support  our  growth  as   we   seek
opportunities in new market places

John Anderson
Chairman and Chief Executive
8th December 1999


TITON HOLDINGS PLC
Consolidated  profit and loss account for  the  year  ended  30
September 1999

                                 1999              1998
                            £'000   £'000    £'000    £'000

Turnover                           14,461            13,285

Cost of sales                      10,287             9,382
                                  _______           _______

Gross profit                        4,174             3,903


Distribution costs             587              665
Administrative expenses      1,822            1,815
                          _______          _______

                                    2,409             2,480
                                  _______           _______

Operating profit                    1,765             1,423

Interest receivable                   260               349
                                  _______           _______

Profit on ordinary activities
 before taxation                    2,025             1,772

Taxation on profit on ordinary
 activities                           647               568
                                  _______           _______

Profit on ordinary activities after
 taxation attributable to the members of
 Titon Holdings plc                 1,378             1,204

Dividends                             716             2,137
                                  _______           _______

Retained profit/(loss) for 
 the financial year                   662            (933)
                                  _______           _______

Earnings per share                  12.51p           10.93p
                                  _______           _______

Diluted earnings per share          12.48p           10.90p
                                  _______           _______

Dividends per share
Interim dividend paid                2.2p             1.8p
Final dividend proposed              4.3p             3.6p
Final special dividend proposed      0.0p            14.0p
                                 _______            _______

                                     6.5p            19.4p
                                  _______           _______


All  recognised gains and losses are included in the profit and
loss account


TITON HOLDINGS PLC
Consolidated balance sheet at 30 September 1999

          
                                   1999              1998
                            £'000    £'000   £'000     £'000
Fixed assets
 Tangible assets                    3,138             3,089

Current assets
 Stocks                     2,046            2,009
 Debtors                    3,146            3,297
 Cash at bank and in hand   3,816            5,271
                          _______          _______

                            9,008           10,577

Creditors: amounts falling due
  within one year           2,774            4,956
                          _______          _______

Net current assets                  6,234             5,621
                                  _______           _______

                                    9,372             8,710
                                  _______           _______

Capital and reserves
 Called up share capital            1,102             1,102
 Share premium account                803               803
 Profit and loss account            7,467             6,805
                                  _______           _______

Equity shareholders' funds          9,372             8,710
                                  _______           _______



TITON HOLDINGS PLC
Consolidated  cash  flow  statement  for  the  year  ended   30
September 1999

                                  1999            1998
                             £'000  £'000    £'000    £'000

Net cash inflow from 
 operating activities               2,190             2,336

Returns on investments
 servicing of finance
 Interest received                    260               350

Taxation
 UK corporation tax               (1,005)             (512)

Capital expenditure
 Purchase of tangible
 fixed assets                 (759)           (507)
 Sale of tangible fixed
 assets                          7              36
                            _______        _______

                                    (752)             (471)

Equity dividends paid             (2,181)             (584)
                                  _______           _______

Cash (outflow)/inflow before
 use of liquid resources          (1,488)            1,119

Management of liquid resources
 Purchase/(Sale) of treasury
 deposits                          1,487            (1,100)
                                  _______           _______

(Decrease)/Increase in cash           (1)               19
                                  _______           _______
                         


TITON HOLDINGS PLC
Notes  to  the preliminary results for year ended 30  September
1999

Notes:

1.   Earnings per share has been calculated in accordance  with
     FRS14.  Prior year figures have been restated to accord with
     current year's presentation.  Basic earnings per share has been
     calculated by dividing the profit attributable to shareholders
     by the weighted average number of ordinary shares in issue
     during the year of 11,017,200 (1998 - 11,017,200)

     The  diluted  earnings per share has  been  calculated  by
     dividing  the profit attributable to shareholders  by  the
     weighted  average number of ordinary shares  and  dilutive
     ordinary  shares  during the year of  11,041,040  (1998  -
     11,043,548).  All dilutive ordinary shares relate to share
     options.

2.   The  Capital reserve has been credited to the  Profit  and
     Loss account reserve in accordance with FRS 10

3.   The Preliminary Announcement does not constitute statutory
     accounts.   The  auditors' report on  the  full  financial
     statements for the ended 30 September 1999 has yet  to  be
     signed.

4.   The actual results for the year ended 30 September 1998 as
     shown in this statement are an abridged version of the Group's
     1998 accounts which have been filed with Registrar of Companies
     and which received an unqualified audit report.

     The results for the year ended 30 September 1999 have been
     prepared   on  a  basis  consistent  with  the  accounting
     policies  set out in the statutory accounts for  the  year
     ended 30 September 1998.

5.   The Preliminary Announcement was approved by the Board  of
     Directors on 8 December 1999.

6.   This  statement is being sent to shareholders and will  be
     available from the company's registered office at International
     House, Peartree Road, Stanway, Colchester, Essex CO3 5JX