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Norcros says H1 trading in line with FY expectations

By BFN News | 07:54 AM | Tuesday 07 October, 2014


Norcros said performance in the first half is in line with full year market expectations. Group revenue for the 26 week period is expected to be in the region of £108m (2013: £111.2m) which represents year on year growth of 3.2% on a constant currency basis but 2.4% lower on a reported basis due to a weaker South African Rand. Notwithstanding the adverse impact of the South African Rand, Norcros has continued to make solid progress with Group underlying operating profit1 expected to be 11% higher than prior year at approximately £7.4m (2013: £6.6m). Group underlying profit before taxation is expected to be 13% higher than the prior year at approximately £6.7m (2013: £5.9m). Revenue performance in the second quarter was stronger than the first quarter in both the UK and South Africa. Story provided by StockMarketWire.com

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