Sales and earnings continue to grow at Norcros

NORCROS, the Cheshire company which supplies showers, tiles and adhesives, has reported a strong rise in annual sales and earnings.

The company has also appointed David McKeith, a former senior partner at PwC in Manchester, to its board.

In the year to the end of March the business behind the Triton shower brand reported a 6.4% rise in pre-tax profits to £10m on sales of £210.7m, up 5.2%.

It said the performance, which included returning the South African operation to profit, had been achieved despite tough markets and significant energy increases.

In April Norcros widened its product range with the acquisition of Vado, a bathroom tap and mixer shower specialist for up to £16m.

Chairman Martin Towers said: “In what has been a challenging year, I am pleased to report another strong performance by Norcros. The group has achieved its fourth consecutive year of growth in both revenue and underlying operating profit despite tough markets and significant energy cost increases, with South Africa returned to profitability this year.
 
“The integration of the Vado business is progressing well. With our leading brands and market positions, high quality and innovative products, strong customer relationships, talented people and successful self-help initiatives, together with the acquisition of Vado which will provide further synergy opportunities, the Board is confident that the group is well placed to make further progress.”

Mr McKeith is joining the company as a senior independent director and chair of the audit committee. He replaces former chairman John Brown who is retiring next month. Company secretary David Hamilton is also retiring and has been replaced by Richard Collins.