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Norcros hikes FY pretax profit

By BFN News | 09:19 AM | Tuesday 14 June, 2016


Norcros has upped its FY pretax profit to £15.4m, from £11.0m. Total dividend was 6.6p a share, up from 5.6p, and revenue firmed to £235.9m, from £222.1m. Chairman Martin Towers commented: "I am delighted to announce that Norcros has recorded its seventh year of revenue and underlying operating profit growth. "In addition, we have taken further steps towards achieving our strategic goals with the acquisitions of Croydex and Abode. "The result reflects the successful acquisition strategy and the sustained focus on driving organic growth through market share gain, investment in new products, operational efficiency programmes and geographic expansion. "The recent acquisitions, together with our developing pipeline, give me confidence that we can achieve our medium-term strategic objectives." HIGHLIGHTS: � Seventh consecutive year of growth � Underlying operating profit up 25.7% at £21.3m (2015: £17.0m) � Underlying diluted earnings per share increased by 31.8% � Acquisitions of Croydex and Abode - further progress towards strategic growth target � Underlying ROCE at 18.3% - ahead of strategic target � Agreement with pension Trustee on scheme valuation and recovery plan At 9:19am: (LON:NXR) Norcros PLC share price was +5.5p at 178.5p Story provided by StockMarketWire.com

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