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IN BRIEF: Norcros doubles quarterly revenue, faces revolt over pay

Wed, 21st Jul 2021 13:54

Norcros PLC - kitchen and bathroom products supplier - Revenue more than doubles year-on-year in the 13 weeks to July 4, driven by strength of the UK and South Africa home improvement markets. On a constant currency basis, revenue increases 22% from two years ago. Chief Executive Nick Kelsall warns that "a normalisation of consumer spending patterns and continued supply chain and Covid-19 disruption mean that market conditions are likely to remain uncertain".

Shareholders vote 30% against the directors' remuneration report at the annual general meeting. Norcros says it is disappointed, and it will engage with shareholders, before publishing an update within six months.

Current stock price: 306.00 pence, up 6.3% on Wednesday

Year-to-date change: up 52%

By Ivan Edwards; ivanedwards@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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