REG - Norcros PLC - AGM Trading Statement

NorcrosAnnouncement

23/07/2025 07:15

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RNS Number : 2112S  Norcros PLC  23 July 2025

23 July 2025

AGM Trading Statement

 

Norcros plc ("Norcros" or the "Group"), the number one bathroom products
business in the UK and Ireland, issues the following trading update covering
the 13-week trading period to 30 June 2025, ahead of its Annual General
Meeting which takes place at 11.00am today.

 

Trading Update

 

The Group's overall trading performance for the first quarter continued to be
resilient, with the Board's expectations for the full year unchanged.

 

Group revenue for the 13-week period on a constant currency like for like
basis* was 0.6% ahead of the prior year after adjusting for the number of
trading days in the period.

 

Revenue in our core UK & Ireland market was 1.0% ahead of the prior year
for the period on a like for like basis*, supported by continued share gains
in our more resilient mid-premium end markets.

 

In South Africa, revenue for the period on a constant currency like for like
basis* was 0.6% behind the previous year after a particularly difficult first
month. The announced closure of our tile manufacturing plant at Johnson Tiles
South Africa has been completed in line with our plan.

 

As announced on 15 July 2025, the Group has entered into an agreement for the
acquisition of the entire issued share capital of Fibo Holding AS. This
transaction will bring another market leading brand into the Group and will
create a leading European waterproof wall coverings division focused on
panels. Completion is subject to approval from the UK Competition and Markets
Authority.

 

Thomas Willcocks, Chief Executive Officer, said:

 

"Norcros continues to grow market share, having delivered another resilient
performance during the first quarter. Whilst trading conditions remain
challenging, we continue to make good progress towards our stated medium-term
targets with focused and ongoing execution of our growth strategy."

 

 

* Adjusted for Johnson Tiles UK and Johnson Tiles SA

 

 

Enquiries

 Norcros plc                                Tel: 01625 547700
 Thomas Willcocks, Chief Executive Officer
 James Eyre, Chief Financial Officer

 Hudson Sandler                             Tel: 0207 796 4133
 Nick Lyon

 Josh Hayler

Notes to Editors

Norcros is a market-leading group of brands specialising in design led,
sustainable bathroom and kitchen products across the UK, Ireland, South
Africa, and select export markets. Each of our brands offers mid-premium
product ranges distinguished by their innovation, design, and commitment to
sustainability, all backed by industry leading service to our trade and retail
customers.

 

Through a strategic blend of acquisitions and organic growth, Norcros has
become the UK and Ireland's number one bathroom products group. We see
significant potential for further expansion within this large and fragmented
market, accelerating growth and capturing market share through continued
acquisitions, organic development, operational excellence, and meaningful ESG
capabilities.

 

Norcros encompasses the renowned brands, Triton, MERLYN, Grant Westfield,
VADO, Croydex, and Abode in the UK, and Tile Africa, TAL, and House of
Plumbing in South Africa.

 

Norcros is headquartered in Wilmslow, Cheshire and employs around 2,000
people. The Company is listed on the London Stock Exchange. For further
information please visit the Company website: www.norcros.com
(http://www.norcros.com)

 

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