Last checked at 1 May 2024 07:00
1 May 2024
Capital Markets Event
Norcros plc ("Norcros" or the "Group"), the market-leading designer and supplier of high quality bathroom and kitchen products in the UK, European and South African markets, is today hosting a Capital Markets Event for investors, lenders and analysts to launch the Group's compelling growth strategy. The event will be held in person at 14:30 at the offices of Deutsche Numis, 45 Gresham Street, London, EC2V 7BF.
The event will include presentations from Thomas Willcocks, Chief Executive Officer and James Eyre, Chief Financial Officer, alongside Norcros' senior management team. The presentations will cover:
· An overview of the Group today and how it has developed into a successful, scalable platform for growth;
· The key opportunities for the Group, including further share gains and consolidation of large, fragmented markets;
· The Group's updated medium term growth strategy, including progress against our strategic pillars: M&A, Organic Growth, Operational Excellence and ESG.
As part of the event, the leadership team will set out further details on its key objectives and targets over the medium term which include:
· Organic growth at 2% - 3% above the market;
· Group operating margin to reach 15%;
· Cash conversion greater than 90%;
· Return on Capital Employed greater than 20%;
· Delivery of SBTi-validated science-based emissions targets by 2028.
The presentation will be followed by a question and answer session.
The presentation materials and a recording of the event will be available on Norcros' corporate website shortly after the event. Both can be accessed at http://www.norcros.com.
No new material trading information will be disclosed at the event.
Enquiries
Norcros plc | Tel: 01625 547700 |
Thomas Willcocks, Chief Executive Officer | |
James Eyre, Chief Financial Officer | |
Hudson Sandler | Tel: 0207 796 4133 |
Nick Lyon Lucy Wollam-Coles | |
Notes to Editors
Norcros is a market-leading designer and supplier of high quality bathroom and kitchen products in the UK, Europe and South African markets.
In the UK, Norcros operates under seven brands, Triton, Merlyn, Grant Westfield, Vado, Croydex, Abode, and Johnson Tiles.
In South Africa, Norcros operates under four brands, Tile Africa, House of Plumbing, TAL, and Johnson Tiles.
Norcros is headquartered in Wilmslow, Cheshire and employs around 2,300 people. The Company is listed on the London Stock Exchange. For further information please visit the Company website: http://www.norcros.com