REG - Norcros PLC - AGM Trading Statement <Origin Href="QuoteRef">NXR.L</Origin>

NorcrosAnnouncement

22/07/2015 07:01

RNS Number : 6968T
Norcros PLC
22 July 2015
22 July 2015
AGM Trading Statement
Norcros plc ("Norcros" or the "Group"), the market leading supplier of innovative branded showers, taps, bathroom accessories, tiles and adhesives, issues the following trading update covering the 13 week trading period to 28 June 2015, ahead of its Annual General Meeting which takes place at 11.00am today at Mottram Hall, Wilmslow Road, Mottram St. Andrew, Cheshire, SK10 4QT. 
Trading Update
The Group's overall trading for the first quarter was in line with the Board's expectations. 
Group revenue from continuing operations for the 13 week period was 4.3% higher on a constant currency basis compared to the same period last year and 3.0% higher in Sterling terms reflecting a weaker South African Rand. It should be noted that there is no revenue from Croydex, the business acquired by the Group on 25 June 2015, within these numbers.
Market conditions remain varied for our UK businesses. Revenue was 0.6% higher than the same period last year with increased activity in the trade sector driven by new house build and commercial contracts, but with the retail sector remaining sluggish. Revenue from our South African businesses grew by 12.0% on a constant currency basis and by 7.9% in Sterling terms. 
Nick Kelsall, Group Chief Executive, commented:
"Whilst the UK retail sector remains challenging, the performance in both the UK trade sector and in South Africa, together with improved manufacturing efficiencies in Johnson Tiles UK, means the Board remains confident that the Group will continue to make progress in line with market expectations for the current year."
ENQUIRIES:
Norcros plc
Tel: 01625 547 700
Nick Kelsall, Group Chief Executive 
Martin Payne, Group Finance Director
Hudson Sandler
Tel: 0207 796 4133
Nick Lyon
Charlie Jack
Katie Matthews
Notes to Editors
 Norcros is a leading supplier of high quality and innovative showers, taps, bathroom accessories, ceramic wall and floor tiles and adhesive products with operations in the UK and South Africa. 
 Based in the UK, Norcros operates under five brands:
 Triton Showers - Market leader in the manufacture and marketing of showers in the UK 
 Vado - A leading manufacturer and supplier of taps, mixer showers, bathroom accessories and valves
 Johnson Tiles - A leading manufacturer and supplier of ceramic tiles in the UK
 Norcros Adhesives - Manufacturer of tile & stone adhesives, grouts and related products
 Croydex - A market-leading, innovative designer, manufacturer and distributor of high quality bathroom furnishings and accessories
 Based in South Africa, Norcros operates under three brands: 
Tile Africa - Chain of retail stores focused on ceramic and porcelain tiles, and associated products such as sanitary ware, showers and adhesives
Johnson Tiles South Africa - Manufacturer of ceramic and porcelain tiles
TAL - The leading manufacturer of ceramic and building adhesives
 Norcros is headquartered in Wilmslow, Cheshire and employs around 1800 people. The Company is listed on the London Stock Exchange. For further information please visit the Company website: http://www.norcros.com/

This information is provided by RNS
The company news service from the London Stock Exchange
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