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Norcros profit up 17% on higher kitchen, bathroom product sales

By BFN News | 07:59 AM | Wednesday 13 June, 2018


Bathroom and kitchen products supplier Norcros posted a rise in annual profit, as market share gains helped boost revenue. Pre-tax profit rose by 17% to £13.5m, as revenue rose 11% to £300.1m. The company declared dividends for the year of 7.8p, up 8.3% on-year. 'I am delighted to announce that Norcros has recorded its ninth consecutive year of revenue and underlying operating profit growth and has also continued to make excellent progress towards its strategic objectives with the acquisition of the Merlyn business in the year,' chairman Martin Towers said. 'The group has delivered another strong performance despite challenging market conditions, reflecting the successful acquisition strategy and the sustained focus on driving organic growth through market share gains.' 'The resilience of the group's business portfolio including the recent acquisitions, together with our well developed acquisition pipeline, gives me confidence that we can continue to make strong progress in the current year towards our new medium-term strategic objectives.' Story provided by StockMarketWire.com

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