Norcros PLC - Cheshire-based kitchen and bathroom products supplier - Says that trading momentum has continued since early February, and it now expects underlying operating profit for the year ending on Wednesday to be no less than GBP31 million on a post-IFRS 16 basis. This compares to previous underlying operating profit guidance for the year of no less than GBP28 million. Notes balance sheet remains "very strong", with no net debt at the end of March versus GBP36.4 million the year before.
Current stock price: 267.34 pence; up 4.4% on Wednesday
Year-to-date change: up 33%
By Paul McGowan; paulmcgowan@alliancenews.com
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Norcros (NXR)