Norcros plc Recommends Final Dividend for the Year Ended March 31, 2016, Payable on July 28, 2016; Reports Audited Consolidated Earnings Results for the Year Ended March 31, 2016
June 14, 2016 at 02:00 am
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The Board of Norcros plc is recommending a final dividend for the year ended March 31, 2016 of 4.4 pence per share against 3.75 pence per share paid a year ago. When added to the interim dividend of 2.2 pence per share which was paid on 7 January 2016, this will make a total dividend for the year of 6.6 pence per share, a 17.9% increase on the previous year. This final dividend, if approved at the AGM, will be payable on 28 July 2016 to shareholders on the register on 24 June 2016. The shares will be quoted ex-dividend on 23 June 2016.
The company reported audited consolidated earnings results for the year ended March 31, 2016. For the period, the company reported revenue of £235.9 million against £222.1 million a year ago. Operating profit was £16.7 million against £10.6 million a year ago. Profit before taxation was £15.4 million against £11.0 million a year ago. Profit for the year from continuing operations was £13.0 million or 20.8 pence per diluted share against £8.1 million or 13.1 pence per diluted share a year ago. Profit for the year was £13.0 million or 20.8 pence per diluted share against £8.2 million or 13.3 pence per diluted share a year ago. Underlying profit before taxation was £20.4 million against £15.8 million a year ago. Underlying earnings were £17.3 million against £13.0 million a year ago. Underlying diluted earnings per share amounted to 27.8 pence against 21.1 pence a year ago. Net cash generated from operating activities was £16.6 million against £14.4 million a year ago. Purchase of property, plant and equipment and intangible assets was £6.6 million against £7.0 million a year ago. Net debt was £32.5 million against £14.2 million a year ago. Underlying operating profit was £21.3 million against £17.0 million a year ago. Underlying operating cash flow was £20.4 million against £22.9 million a year ago. Underlying EBITDA was £26.8 million against £23.0 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 March 31, 2016, Payable on July 28, 2016; Reports Audited Consolidated Earnings Results for the Year Ended March 31, 2016