UK's Norcros gains as co sees FY operating profit to match expectations

Norcros

13/04/2023 09:02

** Shares of bathroom accessory maker Norcros  NXR.L  rise
7.3% at 179p; among top pct gainers across London stocks
    ** Co sees annual underlying operating profit to be in line
with market expectations of 45.9 mln pounds ($57.38 mln)
    ** Co closes loss making division Norcros Adhesives,
resulting in loss of 70 jobs
    ** NXR also extends its 130 mln pounds multi-currency
revolving credit facility for a further year
    ** Sees annual revenue to be about 440 mln pounds vs 396.3
mln pounds yr ago
    ** If gains hold, stock set to post biggest intra day pct
gain in more than two weeks 
    ** As of last close, stock flat this year

($1 = 0.7999 pounds)

 (Reporting by Hani Kollathodi in Bengaluru)
 ((Hani.Kollathodi@thomsonreuters.com;))