Norcros plc. (NXR.L) reported that its profit before taxation for the year ended 31 March 2024 rose to 32.6 million pounds from 21.7 million pounds in the prior year.
Annual profit attributable to equity holders of the company increased to 26.8 million pounds or 29.8 pence per share from 16.8 million pounds or 18.8 pence per share in the previous year.
Underlying earnings per share was 32.1 pence compared to 37.4 pence in the prior year.
Annual revenue declined to 392.1 million pounds from 441.0 million pounds in the prior year.
For the year ended 31 March 2024, the Board recommended a final dividend of 6.8 pence per share, unchanged from the prior year.
Although market conditions are likely to remain uncertain, the Group continues to make further strategic progress and the Board's expectations for fiscal year 2025 remain unchanged.
The company announced medium-term strategic targets. It expects group underlying operating profit margin to reach 15%; cash conversion greater than 90%.
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