Posted 15th November

Norcros sees 105% pre-tax profit rise

By KBBDaily on 15th November 2018 - 10:23am
money matters, norcros, revenue, trading, update, report, merlyn, johnson tiles, triton, kbb, kbbdaily

Norcros has reported a 105.4% increase in pre-tax profit for the six months ending on 30th September 2018, rising from the £7.4m recorded in the same period last year to £15.2m.

Underlying operating profit for the group rose by 29.9% to reach £15.2m. The group – which owns Merlyn, Triton and Johnson Tiles – also saw its revenue increase by 12.1% in the period, citing “robust performance in a challenging market environment”.

According to Norcros, Merlyn is performing strongly, and Johnson Tiles UK has “returned to profit” following its restructuring.

“I am pleased to report a robust set of results for the six months ended 30th September 2018 in what has been a challenging market environment,” said chairman Martin Towers. “This performance continues to demonstrate the strength of our market positions, our leading brands and the financial resilience of our diversified business model.

“The board remains confident that these attributes will continue to drive market outperformance and will enable the group to make further progress in line with its expectations for the year to 31st March 2019.”

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