Posted 14th June

Norcros sees ‘ninth consecutive year of growth’

By KBBDaily on 14th June 2018 - 07:00am
money matters, bathroom, norcros, financial, results, operating profit, revenue, merlyn, shower, kbb, kbbdaily, kbbdailyjobs, ekbbusiness, kbb ark

Norcros has recorded revenue of £300.1m for the financial year ending on 31st March 2018, marking a 10.7% rise as the company saw its “ninth consecutive year of growth”.

Underlying operating profit was up 15.1% to reach £27.4m, while group operating profit reached £19.6m compared with the 2017 financial year’s figure of £16.8m. In November last year, Norcros acquired shower enclosure company Merlyn Industries for £60m, and noted that the company is “trading strongly”.

“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,” said Norcros chairman Martin Towers.

“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 gain.”

He added: “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.”

Related articles

British Ceramic Tile sees dramatic rise in patterned tile sales

Posted today - 07:00am |

The company noted that surfaces are ‘becoming a key focus’ for consumers

Young Furniture Makers exhibition returns for 12th year

Posted yesterday - 15:27pm |

Awards for young designers include the Innovation Award, Design Award and Blum Best in Show Prize

OPSS launches ‘first ever’ product safety strategy

Posted yesterday - 13:00pm |

Measures include increased support for local authorities and closer relationships with manufacturers

Saniflo appoints new sales manager for central region

Posted yesterday - 11:27am |

James Beresford has previously worked at AKW, Impey and Roca

in the spotlight

KBBdigicon 2018: What can we expect to see?

popular articles

1,000 jobs at risk as Homebase owner looks to cut 60 stores

Symphony makes ‘significant’ investments across business