Norcros profits increase by 10.8%

13 Nov, 14

Results for the six months ended September 30, 2014

Norcros, parent company of Triton Showers, Vado, Johnson Tiles and Norcros Adhesive,s has announced its results for the six months ended September 30, 2014, with underlying operating profits having increased by 10.8% to £7.4m.

The group’s revenue increased by 3.3% on a constant currency basis. The sale of its Australian tiles business released net cash proceeds of £3.8m. 

In the UK, underlying operating profit was £6.4m, 7.3% higher than last year and represented an improved return on sales of 8.8%.

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Triton Showers recorded revenue growth of 1.2% to £25.4m. Vado recorded revenue of £14.8m, a rise of 0.3%. And Hohnson Tiles recorded revenue 3.7% lower than last year, while Norcros Adhesives saw continued growth with revenue 27.5% higher at £3.4m. 

Martin Towers, chairman of Norcros: “I am pleased to announce another solid set of results for the six months ended 30 September 2014. We have seen improved performances across all our businesses despite continued mixed market conditions and a weaker South African Rand. With our strong brands, leading market positions and continued self-help initiatives focused on market share gains, the Board remains confident that the Group should continue to make progress in line with market expectations.”