Bathroom and kitchen business Norcros has reported a “robust” performance, despite a challenging demand environment across the UK and in South Africa.
In a trading update, the Wilmslow-based group said that underlying operating profit for the year ended 31 March 2024 will be in line with market expectations.
In South Africa, Norcros said it performed “resiliently” despite the challenging market conditions “aggravated by the significant and unpredictable power interruptions in H1”.
Norcros added that it remains in a “strong financial position, maintaining its historically high levels of cash generation”.
Norcros plc (LON:NXR) is a leading B2B producer of branded bathroom and kitchen products for its UK, South African and selected export markets. The portfolio of eleven operating companies (7 UK, 4 South Africa) is characterised by strong individual brands, together providing product breadth and channel diversity from a strong supply chain base.