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Despite the overall decrease in revenue, Norcros did report a modest 1% increase in UK revenue. However, this was overshadowed by sharp declines of 25% and 8% in South Africa and across the group respectively.
The board anticipates an H1 underlying profit of no less than £21 million. This marks a slight dip from the £22 million reported during the same timeframe last year. Looking forward, Norcros expects its full-year underlying operating profit to meet market expectations of £43.4 million.
In terms of stock performance, company shares remained flat at 147.0 pence at 03:39 ET (07:39 GMT) on Thursday.
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