Norcros revenue up 12.5% on strong UK growth

Norcros, a supplier of showers, taps, bathroom accessories, tiles and adhesives, said group revenue for the first half is expected to be approximately £144.9 million, 12.5% higher than the prior year and 7.1% higher on a constant currency basis.

UK revenue was 8.4% higher than the prior year, reflecting growth in all channels, and benefitting in particular from strong positions in the new housebuild sector and in selective export markets.

The South African business delivered revenue growth of 4.8% on a constant currency basis. Revenue was 21% higher on a reported basis, reflecting a stronger South African Rand.

Net debt is expected to have reduced to around £21 million from £27.5 million.