Business
Results for the year ended 31 March 2017
Results for the year ended 31 March 2017.
About this update from Norcros Plc
[{"type":"text","content":"\n \nRNS Number : 9985H Norcros PLC 14 June 2017 \n\n \n \n14 June 2017\n \nNorcros plc\n \nResults for the year ended 31 March 2017\n \n'Sustained progress in challenging markets.'\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 2017.\n \nFinancial Summary\n \n\n\n\n\n \n\n\n2017\n\n\n2016\n\n\n% change as reported\n\n\n% change at constant currency\n\n\n\n\nRevenue\n\n\n £271.2m\n\n\n £235.9m\n\n\n+15.0%\n\n\n+10.6%\n\n\n\n\nUnderlying operating profit*\n\n\n£23.8m\n\n\n£21.3m\n\n\n+11.7%\n\n\n \n\n\n\n\nUnderlying profit before taxation*\n\n\n£22.9m\n\n\n£20.4m\n\n\n+12.3%\n\n\n \n\n\n\n\nUnderlying diluted EPS*\n\n\n27.8p\n\n\n27.8p\n\n\n-\n\n\n \n\n\n\n\nUnderlying operating cash flow*\n\n\n£29.8m\n\n\n£20.4m\n\n\n+46.1%\n\n\n \n\n\n\n\nOperating profit\n\n\n£16.8m\n\n\n£16.7m\n\n\n+0.6%\n\n\n \n\n\n\n\nNet debt\n\n\n£23.2m\n\n\n£32.5m\n\n\n-28.6%\n\n\n \n\n\n\n\nDividend per share\n\n\n7.2p\n\n\n6.6p\n\n\n+9.1%\n\n\n \n\n\n\n\n \n * Definitions of alternative performance measures are provided in note 5.\n \n Highlights\n· Eighth consecutive year of growth\n· Underlying operating profit up 11.7% at £23.8m (2016: £21.3m)\n· Group operating profit was £16.8m (2016: £16.7m)\n· Strong cash generation - net debt reduced by £9.3m to £23.2m\n· Underlying ROCE at 18.4% ( 2016: 18.3%) - ahead of strategic target \n· Full year dividend increased by 9.1% to 7.2p\n \nMartin Towers, Chairman, commented:\n \n\"It gives me great pleasure to announce that Norcros has recorded its eighth consecutive year of revenue and underlying operating profit growth and has also made good progress towards its strategic objectives. These results demonstrate the Group's resilience in the face of some difficult trading conditions, and reflect the successful acquisition strategy and the sustained focus on driving organic growth through market share gain. In view of the success achieved in the current year, and the strong momentum and focus on growth, I remain confident that we will continue to make progre...