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Norcros (LSE: NXR) – FY25 trading in line with expectations and conducting a strategic review of Johnson Tiles South Africa

Published by Andy Murphy

On a like-for-like and constant currency basis, Norcros expects group revenue to be marginally ahead of the previous year with the UK up 1.0% and South Africa up 0.4%. The group expects operating profit to be in line with market expectations and for year-end net debt to be c £37m, implying 1x net debt to EBITDA.

Today, Norcros announced it is to conduct a strategic review of Johnson Tiles South Africa, which accounts of c £12m of revenue (3% of group) and confirmed that its exposure to the US is ‘negligible’ at less than 0.5%.

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