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Share Price: 231.00

Bid: 0.00

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Change: 0.00 (0.00%)

Spread: 6.00 (2.62%)

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Prev. Close: 231.00

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IN BRIEF: Norcros revenue suffers amid South Africa energy crisis

Thu, 12th Oct 2023 13:54

Norcros PLC - Wilmslow, England-based bathroom and kitchen product supplier - In the 26 weeks to October 1, revenue falls 8.1% year-on-year to about GBP202 million from GBP219.9 million a year prior. Revenue in South Africa declines by about 25%, while revenue in the UK grows 1%. Company highlights national energy supply constraints impacting home market demand in South Africa. Looking ahead, firm expects to meet financial 2024 underlying operating profit market expectations of GBP43.4 million, down 8.2% from GBP47.3 million in financial 2023.

Norcros will release its interim results on November 16.

Current stock price: 145.00 pence, down 1.4% on Thursday

12-month change: down 19%

By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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