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Thomas Willcocks (CEO) and James Eyre (CFO) of Norcros plc conducted an Investor Presentation covering Interim Results for the period to 5th October. Highlights included an increased underlying operating profit (+7.4% to £21.9m) and operating margins up 70bps to 11.9% (with UK & Ireland +120 basis points to 14.8%). The company posted Group LFL revenue growth of 0.8% in a challenging market, an 11% increase in EPS, and excellent cash conversion of 107%. Management provided a detailed financial overview, updated investors on the momentum of strategic initiatives and discussed the acquisition of Fibo (Norway) and closure of Johnson Tiles SA. The team then answered a wide range of questions submitted by the audience. Norcros specialises in design led, sustainable bathroom products across the UK, Ireland, Scandinavia, South Africa, and select export markets - the latest research report from Equity Development on the company's shares is freely accessible here: https://www.equitydevelopment.co.uk/research/norcros-hiding-in-plain-sight The full video has been divided into chapters, as below: 0:00:03 Introduction & Highlights 0:05:07 Financial Review 0:13:09 Strategic Progress (including Fibo Group acquisition) 0:26:40 Summary & Outlook 0:28:05 Questions & Answers
