Norcros Plc. (NXR.L), a provider of bathroom and kitchen products, said that it expects underlying operating profit for the year ended 31 March 2024 to be in line with market expectations.
The company projects group revenue for the year ended 31 March 2024 to be about 390 million pounds, 11.1% below prior year on a reported basis and 6.1% below on a constant currency like for like basis.
The company said it remains in a strong financial position, maintaining its historically high levels of cash generation, with net debt (on a pre-IFRS 16 basis) at 31 March 2024 expected to be about 37 million pounds compared to 49.9 million pounds in the prior year.
The company will announce its full year results for the year ended 31 March 2024 on Thursday 13 June 2024.
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