Norcros plc Recommends Final Dividend for the Year Ended 31 March 2018, Payable on August 2, 2018; Reports Audited Consolidated Earnings Results for the Year Ended March 31, 2018
June 13, 2018 at 02:00 am EDT
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Norcros plc recommended a final dividend for the year ended 31 March 2018 of 5.2 pence per share compared to 4.8 pence paid a year ago. When combined with the interim dividend of 2.6 pence per share, which was paid on 12 January 2018, this will make a total dividend for the year of 7.8 pence per share, an 8.3% increase on the previous year. This final dividend, if approved at the Annual General Meeting, will be payable on August 2, 2018 to shareholders on the register on June 22, 2018. The shares will be quoted ex-dividend on June 21, 2018.
The company reported audited consolidated earnings results for the year ended March 31, 2018. For the year, the company reported revenue of £300.1 million against £271.2 million a year ago. Operating profit was £19.6 million against £16.8 million a year ago. Profit before taxation was £13.5 million against £11.5 million a year ago. Profit for the year from continuing operations was £9.9 million or 14.1 pence per diluted share against £8.5 million or 13.4 pence per diluted share a year ago. Underlying profit before taxation was £26.3 million against £22.9 million a year ago. Underlying earnings were £20.6 million against £17.6 million a year ago. Underlying diluted earnings per share amounted to 29.5 pence against 27.8 pence a year ago. Profit for the year was £9.9 million against £8.5 million a year ago. Net cash generated from operating activities was £17.5 million against £22.7 million a year ago. Purchase of property, plant and equipment and intangible assets was £7.7 million against £8.0 million a year ago. Underlying operating profit was £27.4 million against £23.8 million a year ago. Underlying operating cash flow was £31.0 million against £29.8 million a year ago. Net debt was £47.1 million against £23.2 million a year ago. Underlying EBITDA was £33.8 million against £30.2 million a year ago.
Norcros plc is a United Kingdom-based company engaged in providing design led, quality bathroom and kitchen products. The principal activity of the Company and its subsidiaries is the provision of design led, quality bathroom and kitchen products, mainly in the United Kingdom and South Africa. The Company is focused on supplying branded showers, shower enclosures and trays, taps, bathroom accessories, tiles and adhesives. In the United Kingdom, the Company operates under seven brands, including Triton, Merlyn, Multipanel (Grant Westfield), Vado, Croydex, Abode and Johnson Tiles. . Its complementary business in South Africa operates principally from a shared manufacturing and administrative site near Johannesburg. In South Africa, the Company operates under four brands, including Tile Africa, House of Plumbing, TAL and Johnson Tiles. Triton is engaged in providing electric and mixer showers to a range of retail and trade customers.
Norcros plc Recommends Final Dividend for the Year Ended 31 March 2018, Payable on August 2, 2018; Reports Audited Consolidated Earnings Results for the Year Ended March 31, 2018