Steering a steady course in H1'25

Norcros’ H1'25 pre-close statement infers that headline trading in Q2 was similar to Q1, leaving group revenue flat overall y-o-y for continuing businesses. On the same basis, while profitability looks to be slightly lower - which may reflect mix effects - company expectations for the full year are unchanged. While easing inflation and interest rates have been welcomed in Norcros’ primary markets, any significant pick-up in economic activity is still pending as new governments bed in in both cases. H125 LFL revenues nudged ahead in the UK (continuing operations +1%) and declined modestly in South Africa (-2% at constant currency) giving a flat y-o-y performance at group level, excluding the exited Johnson Tiles UK and Norcros Adhesive busin...