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Titan Holdings says it remains cautious about its short-term prospects as it announces an 11.1% increase in pre-tax profits 鈥� up to 拢1.18m 鈥� for the year to 30 September on an almost unchanged turnover of 拢16.44m.

Chairman John Anderson said that the improved performance had been assisted by measures taken last year to reduce cost base and be more efficient. He warned that if Titan was to maintain its UK manufacturing base in the face of international competition it would have to reduce manufacturing costs further.

鈥淭o this end, we have invested in further significant automation of our production and packaging processes,鈥� he said, but added; 鈥渋n parallel with UK manufacturing investment, we will continue to seek cost-effective supply options from overseas where appropriate.鈥�

In his statement, Anderson said that sales in the firm鈥檚 traditional UK window market had fallen slightly as demand fell in line with the general slowdown in the economy. Despite new building regulations due to come into force in 2006 鈥� specifying that trickle ventilators be installed in domestic replacement windows, which could drive sales of Titan鈥檚 ventilation products 鈥� Anderson said he remained cautious about short-term prospects.