The Norcros PLC Board is declaring an interim dividend of 3.4p per share reflecting the strong first half performance and its confidence in the Group's prospects. The dividend is payable on 10 January 2023 to shareholders on the register on 25 November 2022. The shares will be quoted ex-dividend on 24 November 2022.
Other financial highlights include:
Resilient performance with record first half revenue. An increase compared to the pre-pandemic 2019 comparative period of 19.8% on a constant currency like for like basis; above the prior year by 9.5% on a reported basis and 1.1% on a constant currency like for like basis
The Group benefited from its geographical spread, market share gains and trade channel resilience, offset by softer retail demand and customer destocking
Underlying operating profit increased by 26.4% against 2019 to a record equalling £22.0m, in line with the record result in 2021
Grant Westfield acquisition completed and seamlessly integrated in the period
Strong financial position - low leverage and £130m of committed banking facilities maturing October 2025; significant liquidity and funding headroom
