Norcros PLC
16 August 2007
Norcros plc
("Norcros", the "Group" or the "Company")
Interim Management Statement
Norcros, the home consumer products group with operations primarily in the UK
and South Africa, which was listed on the London Stock Exchange on 16th July,
today publishes its first Interim Management Statement. This statement relates
to the 18 week period from 1st April, 2007 to 5th August, 2007.
Overall trading has been encouraging and the Group continues to perform in line
with the Board's expectations.
UK (circa 64% of Group Sales)
The principal UK businesses, Triton, the UK market leader in domestic showers
and H & R Johnson, a leading UK manufacturer and supplier of ceramic tiles and
tile adhesives, both continue to trade well with solid underlying sales growth
across all key sectors. Triton continues to grow market share in the mixer
segment and to invest in new product development to take advantage of market
opportunities. H & R Johnson has made further progress in both the Trade and
Multiple Sectors reflecting the benefits of increased marketing and product
programmes.
South Africa (circa 32% of Group Sales)
In South Africa there has been good overall progress. Our retail operation, Tile
Africa, has made excellent progress with strong sales growth. A new store at
Rivonia, with an innovative new format, has recently been opened and sites have
been secured for three further new store openings later this year with
discussions ongoing in relation to other targeted sites. TAL, our adhesive
operation, continues to build sales on the back of positive market conditions
and new product developments.
Rest of the World (circa 4% of Group Sales)
Our wholly-owned subsidiary in Australia selling tiles under the "Johnson" brand
has also made good progress following a reorganisation last year and we expect
this to be maintained.
The Board is confident of further progress during the current year in line with
its expectations.
16th August, 2007
ENQUIRIES
Norcros plc Tel: 01625 547700
Joe Matthews, Group Chief Executive
Nick Kelsall, Group Finance Director
Altium Tel: 0161 831 9133
Phil Adams
Mike Fletcher
College Hill Tel: 020 7457 2020
Mark Garraway
Matthew Gregorowski
For further information please visit the Company website: www.norcros.com
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.