1 May
2024
Capital Markets Event
Norcros plc ("Norcros" or the
"Group"), the market-leading designer and supplier of high quality
bathroom and kitchen products in the UK, European and South African
markets, is today hosting a Capital Markets Event for investors,
lenders and analysts to launch the Group's compelling growth
strategy. The event will be held in person at 14:30 at the offices
of Deutsche Numis, 45 Gresham Street, London, EC2V 7BF.
The event will include presentations
from Thomas Willcocks, Chief Executive Officer and James Eyre,
Chief Financial Officer, alongside Norcros' senior management team.
The presentations will cover:
· An overview of the Group today and how it has developed into a
successful, scalable platform for growth;
· The key opportunities for the Group, including further share
gains and consolidation of large, fragmented markets;
· The Group's updated medium term growth strategy, including
progress against our strategic pillars: M&A, Organic Growth,
Operational Excellence and ESG.
As part of the event, the leadership
team will set out further details on its key objectives and targets
over the medium term which include:
·
Organic growth at 2% - 3% above the
market;
·
Group operating margin to reach 15%;
·
Cash conversion greater than 90%;
·
Return on Capital Employed greater than
20%;
·
Delivery of SBTi-validated science-based emissions
targets by 2028.
The presentation will be followed by
a question and answer session.
The presentation materials and a
recording of the event will be available on Norcros' corporate
website shortly after the event. Both can be accessed at
http://www.norcros.com.
No new material trading information
will be disclosed at the event.
Enquiries
Norcros plc
|
Tel: 01625 547700
|
Thomas Willcocks, Chief Executive
Officer
|
|
James Eyre, Chief Financial
Officer
|
|
|
|
Hudson Sandler
|
Tel: 0207 796 4133
|
Nick Lyon
Lucy Wollam-Coles
|
|
|
|
|
|
Notes to Editors
Norcros is a market-leading designer
and supplier of high quality bathroom and kitchen products in the
UK, Europe and South African markets.
In the UK, Norcros operates under
seven brands, Triton, Merlyn, Grant Westfield, Vado, Croydex,
Abode, and Johnson Tiles.
In South Africa, Norcros operates
under four brands, Tile Africa, House of Plumbing, TAL, and Johnson
Tiles.
Norcros is headquartered in
Wilmslow, Cheshire and employs around 2,300 people. The Company is
listed on the London Stock Exchange. For further information please
visit the Company website: http://www.norcros.com