Shower, adhesive and tile supplier Norcros has reported a solid 4.1 per cent rise in underlying sales and is expected to post a 12 per cent rise in adjusted EPS for the 12 months to March 2012.
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Both Johnson Tiles and Norcros Adhesives delivered solid revenue growth, and while sales at Triton Showers was marginally down, mainly as a result of a weak performance over Christmas, sales rebounded strongly in January, helped by the launch of a new product range.
Year-end net debt rose from £12.4m to £19m mainly as a result of a £7.8m charge to terminate a lease on the Springwood Drive factory used by former subsidiary Critall Windows, but this will generate annual savings of £3.3m.
