Cheshire bathroom specialist on the up

A Cheshire based business that supplies bathroom accessories has announced a 3.5% increase in operating profit.

Norcros plc, of Wilmslow, made £6.8m underlying operating profit in the six months to 30th September.

The Group, which operates four related businesses dealing in showers, taps and bathroom accessories such as tiles and adhesives, acquired bathroom brassware manufacturer Vado earlier in the year, which chairman Martin Towers attributes the Group’s strong UK growth.

Revenue increased by 16.3% over the same period to £116.7m.

Towers said: “Despite destocking in the UK retail sector, we have recorded strong constant currency revenue growth of 16.3% in the period, reflecting the acquisition of Vado and improving UK market conditions towards the end of the period.

“Despite the challenging environment, the Board remains confident of the full year outcome and believes the Group is well positioned to benefit in the medium term should any improvement in market conditions gather momentum.”

Towers also revealed that results are expected to further improve as activity in the UK construction and housing market picks up.

Businesses under the Norcros plc Group banner include Triton, Vado, Johnson Tiles and Norcros Adhesives.

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