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B&Q gains boost Norcros sales

Strong growth for its Johnson Tiles business, driven by market share gains with B&Q, has helped Wilmslow-based Norcros offset a revenue decline for its Triton showers.

The firm said group revenues for the 13 weeks to July 1 were 8.5 per cent higher on a constant currency basis compared with the same period last year.

In the UK, sales were 3.9 per cent ahead despite tough market conditions.

Norcros said Johnson Tiles recorded a 19.4 per cent revenue rise, driven by gains with B&Q, which has implemented a major tile range review and new in-store tile shop. This has offset lower UK trade and export revenues for Johnson, the firm added.

It said the UK shower market remains challenging, with the extra June bank holiday and further destocking in the trade sector hitting sales. Triton's revenues fell 13.1 per cent overall, with a 9.6 per cent slide in the UK and a 31.2 per cent slump in exports.

Norcros said the encouraging momentum seen in its South African business during the last quarter of the previous financial year has continued, with revenues 17.1 per cent higher on a constant currency basis.

Norcros manufactures tiles and adhesives in South Africa and runs a chain of tile stores there.

The company added in a statement to shareholders at its annual meeting: “Despite the prevailing conditions in our major markets, we believe the strength of our brands, our leading market positions, our customer relationships and the positive momentum in Johnson Tiles South Africa gives the board confidence that the group should continue to make progress in line with market expectations for the current year.”

Source : MEN Media

01 August 2012
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