Business
Results for the year ended 31 March 2019
Results for the year ended 31 March 2019.
About this update from Norcros Plc
[{"type":"text","content":"\n \nRNS Number : 8846B Norcros PLC 12 June 2019 \n\n \n \n12 June 2019\n \nNorcros plc\n \nResults for the year ended 31 March 2019\n \n'The Group's tenth consecutive year of revenue and underlying operating profit growth'\n \nNorcros, a market leading supplier of high quality and innovative bathroom and kitchen products, today announces its results for the year ended 31 March 2019.\n \nFinancial Summary\n \n\n\n\n\n \n\n\n2019\n\n\n2018\n\n\n% change as reported\n\n\n% change at constant currency\n\n\n\n\nRevenue\n\n\n £331.0m\n\n\n £300.1m\n\n\n+10.3%\n\n\n+11.6%\n\n\n\n\nUnderlying operating profit*\n\n\n£34.4m\n\n\n£27.4m\n\n\n+25.5%\n\n\n+27.4%\n\n\n\n\nUnderlying profit before taxation*\n\n\n£32.6m\n\n\n£26.3m\n\n\n+24.0%\n\n\n \n\n\n\n\nUnderlying diluted EPS*\n\n\n31.7p\n\n\n29.5p\n\n\n+7.5%\n\n\n \n\n\n\n\nUnderlying operating cash flow*\n\n\n£39.8m\n\n\n£31.0m\n\n\n+28.4%\n\n\n \n\n\n\n\nOperating profit\n\n\n£25.1m\n\n\n£19.6m\n\n\n+28.1%\n\n\n \n\n\n\n\nNet debt\n\n\n£35.0m\n\n\n£47.1m\n\n\n \n\n\n \n\n\n\n\nDividend per share\n\n\n8.4p\n\n\n7.8p\n\n\n+7.7%\n\n\n \n\n\n\n\n \n * Definitions of alternative performance measures are provided in note 5.\n \n Highlights\n· Tenth consecutive year of growth\n· Underlying operating profit up 25.5% at £34.4m (2018: £27.4m)\n· Group operating profit was £25.1m (2018: £19.6m)\n· Underlying ROCE at 18.2% (2018: 18.0%) \n· Full year dividend increased by 7.7% to 8.4p\n· Strong cash generation - net debt reduced by £12.1m to £35.0m \n· Acquisition of House of Plumbing completed on 1 April 2019 \n· Group strategy - strong progress\n \nMartin Towers, Chairman, commented:\n \n\"I am delighted to announce that Norcros has recorded another year of growth despite the uncertain economic and political backdrop in our two main markets. This reflects the resilience of the Group's business model and the success of our acquisition strategy. It also represents the Group's tenth consecutive year of revenue and und...