Norcros plc Cooperates with Optimisation Developments According to BAC Report12 Oct 2011 • by Natalie Aster
LONDON – Recently Britain-based home consumer products manufacturer Norcros plc entered into partnership agreement with a subsidiary of WM Morrison Supermarkets, a company named Optimisation Developments Limited. Upon the agreement Norcros will sell a part of surplus freehold land holding for about £8.25 M. the purchase requires Norcros to finish infrastructure projects before selling the land, and these developments were estimated £5.65 M. Infrastructure projects plus land value of £1.8 M amount to £7.45 M, therefore Norcros expects net profit of £0.8 M from this deal that is planned to be done by April 2013.
Company’s recent financial performance is strong. Major financial indices show confident growth, and preliminary H1 results prove that, with revenues increasing by 5.1% comparing to the same period year ago. FY ended March 31 2011 is another success indicator. Revenue and net income amounted to GBP 196.1 M and GBP 6.7 M respectively (15.6% and 167% growth). Norcros shows rapid recovery from financial crisis impact, with South Africa as main revenues generator.
Founded in 1995 and headquartered in Cheshire, Norcros plc engages in design, manufacture and distribution of showers, tiles and adhesives. In UK three companies of Norcros operate: Triton Showers, Johnson Tiles, and Norcros Adhesives. In South Africa JTSA manufactures tiles, TAL operates as adhesives division, and TAF sells tiles. Concerning Rest of World Norcros has a sales office in Dubai, distribution warehouse in the USA and administrative offices in China. It also has subsidiaries in Greece (Philkeram Johnson) and Australia (Johnson Tiles Australia).
All the details about Norcros plc business, products, SWOT, and competitors can be found in the report “Norcros plc Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Title: Norcros plc Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Sep, 2011
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