Norcros plc (LON:NXR), a market-leading designer and supplier of high-quality bathroom and kitchen products in the UK, Europe and South Africa markets, has announced its results for the year ended 31 March 2024.
Financial summary
| 2024 | 2023 | % change 2024 v 2023 | |
| Revenue | £392.1m | £441.0m | (11.1%) |
| Revenue constant currency LFL1 | (6.0%) | ||
| Underlying operating profit2 | £43.2m | £47.3m | (8.7%) |
| Underlying operating profit margin (%) | 11.0% | 10.7% | 0.3pp |
| Underlying profit before taxation2 | £36.4m | £41.8m | (12.9%) |
| Diluted underlying EPS2 | 32.1p | 37.4p | (14.2%) |
| Underlying operating cash flow2 | £56.4m | £44.8m | 25.9% |
| Operating profit | £39.9m | £27.5m | 45.1% |
| Underlying net debt2 | (£37.3m) | (£49.9m) | 25.3% |
| Dividend per share | 10.2p | 10.2p | – |
1 LFL – Like for like after adjusting for the acquisition of Grant Westfield and the closure of Norcros Adhesives
2 Definitions and reconciliations of alternative performance measures are provided in note 5
