Business
Results for the year ended 31 March 2016
Results for the year ended 31 March 2016.
About this update from Norcros Plc
[{"type":"text","content":"\n \nRNS Number : 0653B Norcros PLC 14 June 2016 \n\n \n \n14 June 2016\n \nNorcros plc\n \nResults for the year ended 31 March 2016\n \n'Further steps towards achieving our strategic goals.'\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 2016.\n \nFinancial Summary\n \n\n\n\n\n \n\n\n2016\n\n\n2015\n\n\n% change as reported\n\n\n% change at constant currency\n\n\n\n\nRevenue\n\n\n £235.9m\n\n\n £222.1m\n\n\n+6.3%\n\n\n+11.0%\n\n\n\n\nUnderlying* operating profit\n\n\n£21.3m\n\n\n£17.0m\n\n\n+25.7%\n\n\n \n\n\n\n\nUnderlying* profit before tax\n\n\n£20.4m\n\n\n£15.8m\n\n\n+29.1%\n\n\n \n\n\n\n\nProfit before tax\n\n\n£15.4m\n\n\n£11.0m\n\n\n+40.2%\n\n\n \n\n\n\n\nUnderlying* diluted EPS\n\n\n27.8p\n\n\n21.1p\n\n\n+31.8%\n\n\n \n\n\n\n\nUnderlying operating cash flow**\n\n\n£20.4m\n\n\n£22.9m\n\n\n-10.9%\n\n\n \n\n\n\n\nNet debt\n\n\n£32.5m\n\n\n£14.2m\n\n\n+128.9%\n\n\n \n\n\n\n\nDividend per share***\n\n\n6.6p\n\n\n5.6p\n\n\n+17.9%\n\n\n \n\n\n\n\n \n *Underlying is before IAS 19R administrative expenses, acquisition related costs and exceptional operating items and, where relevant, before non-cash \n finance costs and after attributable tax\n **Underlying operating cash flow is cash generated from continuing operations before exceptional cash out flows and pension fund deficit recovery \n contributions\n ***Restated for the 10:1 share consolidation completed on 29 September 2015\n \n Highlights\n· Seventh consecutive year of growth\n· Underlying operating profit up 25.7% at £21.3m (2015: £17.0m)\n· Underlying diluted earnings per share increased by 31.8%\n· Acquisitions of Croydex and Abode - further progress towards strategic growth target\n· Underlying ROCE at 18.3% - ahead of strategic target \n· Full year dividend increased by 17.9%\n· Agreement with pension Trustee on scheme valuation and recovery plan\n \nMartin Towers, Chairman, commented:\n \n\"I am delig...