Last checked at 
(Alliance News) - Norcros PLC on Thursday asserted its confidence to stay in line with expectations due to its "leading customer proposition" and "focused operating model" that it said will lead to further growth.
The Wilmslow, Cheshire-based kitchen and bathroom products supplier said revenue in the six months to September 30 widened by 48% to GBP200.9 million from GBP135.3 million in the same period a year ago.
Pretax profits in the period multiplied to GBP17.7 million from GBP3.4 million a year before.
Norcros attributed the growth to increased activity in the retail renovation maintenance and improvement market in the UK and South Africa - which allowed the firm's "leading customer proposition" to capitalise on.
The company reinstated in shareholder payout in the first half, reflecting its confidence in further growth. It declared an interim dividend of 3.1 pence per share.
Norcros notes that supply chain issues and increased energy costs will continue to remain challenges for the rest of the financial year.
Nonetheless, Norcros still asserts confidence that its "proven business model and leading customer proposition" will help the company to stay in line with its expectations for the financial year ending March 31, 2022.
Shares were down 0.3% at 328.00 pence on Thursday in London.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.