Norcros plc (LSE:NXR) expects to report a 19% increase in revenue to approximately £220 million for the 26 weeks ended 4 October 2026, with underlying continuing operating profit forecast to reach at least £24.6 million.
The bathroom products group said like-for-like revenue growth at constant currency was approximately 1.5%, reflecting differing trading conditions across its geographical markets.
Operations in Europe, including the Fibo business, and South Africa recorded revenue growth during the period, while demand in the UK remained subdued. The performance across its European and South African businesses partially offset the impact of softer conditions in the domestic market.
Norcros reported that pricing adjustments and ongoing operational efficiency programmes contributed to its first-half performance. The group has continued implementing cost management measures alongside initiatives intended to improve operational efficiency across its businesses.
The company also reported progress on the planned disposal of its South African operations, although the transaction has not yet been completed.
Net debt at the end of the reporting period is expected to be approximately £55 million, reflecting cash generation during the first half. The group estimates its leverage ratio at around 1.1 times EBITDA.
Looking ahead, Norcros expects market conditions to remain subdued during the second half of its financial year. Nevertheless, the board has maintained its guidance for full-year underlying operating profit to be in line with market expectations.
The company cited its pricing measures, supply chain arrangements, operational efficiency initiatives and cost management activities as factors supporting its current financial outlook.
The anticipated first-half results reflect revenue growth across the group, alongside continued efforts to manage operating costs and reduce net debt while progressing the proposed sale of its South African business.
About Norcros plc
Norcros plc (LSE:NXR) is a bathroom products group operating across the United Kingdom, Ireland and South Africa, with a portfolio of brands serving trade and retail customers.
Its brands include Triton, Merlyn, Grant Westfield, Fibo, Vado, Croydex, Abode, Tile Africa, TAL and House of Plumbing. The group focuses primarily on mid-premium bathroom products, including showers, enclosures, fittings, surfaces and associated accessories.
Headquartered in Wilmslow, Norcros employs approximately 2,000 people and operates through a decentralised management structure, with individual businesses retaining operational responsibility while sharing selected procurement, logistics and other group resources.
The company’s development strategy includes organic expansion, selective acquisitions, operational efficiency measures and environmental, social and governance initiatives.
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