Norcros plc ("Norcros" or the "Group"), a market leading supplier of high quality and innovative bathroom and kitchen products, today issues an update on recent trading.
Further upgrade: strong momentum sustained
In our 3 March 2021 trading update we increased our full-year guidance, reflecting the strong trading momentum in the four month period ended 7 February 2021.
Since 7 February, this strong trading momentum has continued despite the testing external environment, and combined with our effective management of the COVID-19 lockdowns and supply chain disruption challenges, has contributed to a further improvement in profitability. Consequently, the Board now expects underlying operating profit for the year to 31 March 20211 to be no less than £31m on a post-IFRS 16 basis which compares to our previous underlying operating profit guidance for the year of no less than £28m.
Robust balance sheet and financial position
The balance sheet remains very strong, and we expect to end the year at 31 March 2021 with no net debt (on a pre-IFRS16 basis) compared to net debt of £36.4m at 31 March 2020.
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Er is meestal een 'meldingsplicht' (lees, men moet de markt informeren) indien de resultaten fel afwijken van de gegeven outlook.
& 3M verschil op zo'n korte periode is een vrij grote afwijking. Underpromise overdeliver... liever zo dan andersom natuurlijk