Last checked at 1 May 2024 07:00
1 May 2024
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Capital Markets Event
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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.
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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:
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路 An overview of the Group today and how it has developed into a successful, scalable platform for growth;
路 The key opportunities for the Group, including further share gains and consolidation of large, fragmented markets;
路 The Group's updated medium term growth strategy, including progress against our strategic pillars: M&A, Organic Growth, Operational Excellence and ESG.
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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:
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路 Organic growth at 2% - 3% above the market;
路 Group operating margin to reach 15%;
路 Cash conversion greater than 90%;
路 Return on Capital Employed greater than 20%;
路 Delivery of SBTi-validated science-based emissions targets by 2028.
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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.
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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.
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In the UK, Norcros operates under seven brands, Triton, Merlyn, Grant Westfield, Vado, Croydex, Abode, and Johnson Tiles.
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In South Africa, Norcros operates under four brands, Tile Africa, House of Plumbing, TAL, and Johnson Tiles.
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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