Norcros, the Cheshire-based supplier of showers, taps and bathroom accessories, has recorded its tenth year of consecutive growth despite Brexit worries.
The Wilmslow manufacturer which operates seven brands including Johnson Tiles, Triton and Merlyn, said group revenues for the year was £331m, up 10.3 per cent on the previous year.
Underlying operating profit rose 25.5 per cent to £34.4m.
This mainly reflects the full-year contribution from Merlyn, which it acquired in 2017, and the return to profitability of Johnson Tiles 海角视频 following its restructure last year and the strong performance at Triton.
Pre-tax profit for the year to 31 March is up 24 per cent to £32.6m.
Norcros said the impact of Brexit remained a concern but the group has identified specific risks and has prepared mitigation plans.
However, it said while the group was prepared, ‘the high level of uncertainty of both the financial and political implications of Brexit make the success of mitigation activities difficult to predict.’
The board has also agreed a dividend increase of 7.7 per cent to 8.4p per share.
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Martin Towers, chairman, said: “I am delighted to announce that Norcros has recorded another year of growth despite the uncertain economic and political backdrop in our two main markets.
“This reflects the resilience of the Group’s business model and the success of our acquisition strategy. It also represents the Group’s tenth consecutive year of revenue and underlying operating profit growth, which is a testament to the management team, the strategy and its highly successful execution.
“Whilst market conditions are likely to remain challenging, the Board is confident that these attributes will continue to drive market outperformance leading to further progress in the current year consistent with our strategic objectives.”