REG - Norcros PLC - Capital Markets Event

NorcrosAnnouncement

01/05/2024 07:00

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RNS Number : 6918M  Norcros PLC  01 May 2024

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 (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
(http://www.norcros.com)

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