Business
Results for the year ended 31 March 2025
Results for the year ended 31 March 2025.
About this update from Norcros Plc
[{"type":"text","content":"\n\n\n\n12 June 2025\nNorcros plc\n \nResults for the year ended 31 March 2025\n \n \n \nStrategic execution delivering share gains and margin growth\n \n \nNorcros, the number one bathroom products business in the UK and Ireland, today announces its results for the year ended 31 March 2025.\n \nFinancial summary\n \n\n\n\n\n\n\n\n2025\n\n\n2024\n\n\n% change\n2025 v 2024\n\n\n\n\nRevenue\n\n\n£368.1m\n\n\n£392.1m\n\n\n(6.1%)\n\n\n\n\nRevenue constant currency LFL1\n\n\n\n\n\n\n\n\n0.9%\n\n\n\n\nUnderlying operating profit2\n\n\n£43.2m\n\n\n£43.2m\n\n\n-\n\n\n\n\nUnderlying operating profit margin (%)\n\n\n11.7%\n\n\n11.0%\n\n\n0.7pp\n\n\n\n\nUnderlying profit before taxation2\n\n\n£36.5m\n\n\n£36.4m\n\n\n0.3%\n\n\n\n\nUnderlying operating cash flow2\n\n\n£38.9m\n\n\n£56.4m\n\n\n(31.0%)\n\n\n\n\nOperating profit3\n\n\n£8.3m\n\n\n£39.9m\n\n\n(79.2%)\n\n\n\n\nUnderlying net debt2\n\n\n(£36.8m)\n\n\n(£37.3m)\n\n\n1.3%\n\n\n\n\nDiluted underlying EPS2\n\n\n32.4p\n\n\n32.1p\n\n\n0.9%\n\n\n\n\nDividend per share\n\n\n10.4p\n\n\n10.2p\n\n\n0.2p\n\n\n\n\n \n1 LFL - Like for like after adjusting for the sale of Johnson Tiles UK in May 2024 and the closure of Norcros Adhesives in June 2023\n2 Definitions and reconciliations of alternative performance measures are provided in note 5\n3 Operating profit is stated after acquisition and disposal related costs (c.£25.4m largely relating to the sale of Johnson Tiles UK), exceptional operating items and IAS 19R administrative expenses. Details are contained later in this statement\n \nHighlights\n· Strong progress in a challenging environment:\no UK and Ireland - record underlying profit of £39.8m (2024: £38.4m) and underlying operating profit margin of 15.5% (2024: 13.6%)\no South Africa - resilient performance with underlying profit of £3.4m (2024: £4.8m); well placed to gain market share as conditions gradually improve\n· Disciplined strategic execution driving market share gains and margin improvement:\no Portfolio development - sale of Johnson Tiles UK in May 2024 strengthens portfolio; strategic review of Johnson Tiles SA nearing completion\no Organic growth - launch of first complete bathroom range, increased cross-selling and market-leading c...