Business
Half Year Results
Half Year Results.
About this update from Norcros Plc
[{"type":"text","content":"\n RNS Number : 3807W Norcros PLC 18 November 2010 \n \n\nNorcros plc\n(\"Norcros\" or \"the Group\")\n \nResults for the six months ended 30 September 2010\n \nNorcros, the home consumer products group with operations primarily in the UK and South Africa, announces results for the six months ended 30 September 2010. The period under review consisted of 27 weeks compared to 26 weeks last year.\n \nFinancial Summary\n\n\n\n\n\n\n\n2010\n\n\n2009\n\n\n% Change\n\n\n\n\nRevenue as reported\n\n\n£97.3m\n\n\n£83.0m\n\n\n+17.2\n\n\n\n\nRevenue for 26 weeks*\n\n\n£93.7m\n\n\n£83.0m\n\n\n+12.9\n\n\n\n\nRevenue for 26 weeks* at constant currency\n\n\n£93.7m\n\n\n£87.7m\n\n\n+6.8\n\n\n\n\nTrading profit**\n\n\n£6.4m \n\n\n£3.5m \n\n\n+82.9\n\n\n\n\nBenchmark profit before tax***\n\n\n£5.6m\n\n\n£1.2m\n\n\n+366.7\n\n\n\n\nBenchmark earnings per share***\n\n\n0.9p\n\n\n0.8p\n\n\n+12.5\n\n\n\n\nDividend per share\n\n\n0.12p\n\n\n-\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n* Adjusted for the current interim period covering 27 weeks compared to 26 weeks last year\n** Operating profit before exceptional items and other operating income\n*** Profit before tax, exceptional items, non-cash finance costs and share of results from associates\n \nOperational Highlights\n \n§ A significant improvement in the Group's performance compared to last year: \n \no Encouraging progress given the continuing tough trading conditions and the uncertain economic environment\n \no Resilient performance from UK operations\n \no Substantial turnaround in South African business\n \no Benefits of investment in new products, technology and focused sales & marketing strategy driving increased market share in showers and tiles\n \no Increase in capacity in our UK tile and UK adhesive businesses underway\n \n \nFinancial Highlights\n \n§ Revenue growth of +6.8% (Like for like at constant currency)\n \n§ Trading profit +83% to £6.4m (2009: £3.5m)\n \n§ Benchmark pre-tax profit +367% at £5.6m (2009: £1.2m)\n \n§ Disposal of Beaumont investment realised £4.4m net, completed June 2010\n \n§ Net debt (before prepaid finance costs) reduced to £13.0m (2009 : £48.9m)\n \n§ Return to dividend list...