Business
Full Year Results
Full Year Results.
About this update from Norcros Plc
[{"type":"text","content":"\n \nRNS Number : 9808J Norcros PLC 19 June 2014 \n \n\n \n \n19 June 2014\n \nNorcros plc\n \nResults for the year ended 31 March 2014\n \n'Significant progress during the year'\n \nNorcros, the market leading supplier of innovative branded showers, taps, bathroom accessories, tiles and adhesives, today announces its results for the year ended 31 March 2014.\n \nFinancial Summary\n \n\n\n\n\n\n\n\n2014\n \n\n\n2013 as restated†\n\n\n% change as reported\n\n\n% change at constant currency\n\n\n\n\nRevenue\n\n\n£218.7m\n\n\n£200.4m\n\n\n+9.2%\n\n\n+16.6%\n\n\n\n\nUnderlying* operating profit\n\n\n£16.1m\n\n\n£12.8m\n\n\n+25.5%\n\n\n\n\n\n\n\nUnderlying* profit before tax\n\n\n£14.6m\n\n\n£11.5m\n\n\n+26.7%\n\n\n\n\n\n\n\nProfit before tax\n\n\n£5.8m\n\n\n£5.2m\n\n\n+12.6%\n\n\n\n\n\n\n\nUnderlying operating cash flow**\n\n\n£20.3m\n\n\n£10.8m\n\n\n+88.0%\n\n\n\n\n\n\n\nDividend per share\n\n\n0.51p\n\n\n0.46p\n\n\n+10.9%\n\n\n\n\n\n\n\n \n*Underlying is before non-underlying and exceptional operating items, and, where relevant, before non-cash finance costs less attributable taxation\n**Underlying operating cash flow is cash generated from continuing operations before exceptional cash out flows and pension fund deficit recovery contributions\n†The results for the previous year have been restated to reflect the implementation of IAS19R, 'Employee Benefits' and discontinued operations\n \n Highlights\n· Fifth consecutive year of revenue and underlying operating profit growth\n· Revenue increased by 16.6% on a constant currency basis\n· Underlying operating profit increased by 25.5% to £16.1m (2013: £12.8m)\n· Strong cash performance\n· Vado acquisition successfully integrated\n· Disposal of Australian business May 2014 - geographic focus\n· Underlying ROCE 15.0% (2013: 12.6%)\n· Progress with legacy matters\n· Full year dividend up 10.9%\n \nMartin Towers, Chairman, commented:\n \n\"I am pleased to report that Norcros has made significant progress during the year to 31 March 2014, recording a fifth consecutive year of revenue and underlying oper...