Market share gains boost Norcros profits

23rd Jun 2011 11:42

Winning a bigger share of markets that are declining in both Britain and South Africa helped Norcros, the home products group behind Triton showers, move into profit in the year to March 31.The company posted a pre-tax profit of £7.5m in the year to 31 March, against a deficit of £10m the previous year, on revenues that climbed to £196.1m from £169.6m.Turnover in Britain rose by 11% to £114m, with revenue growth in Triton Showers , Johnson Tiles and Norcros Adhesives.South African revenues grew by 22.7% to £72.4m."In a year when our markets have declined our businesses have delivered encouraging results with growth in revenue and earnings," the company said. "Market share gains have been achieved in all major businesses due to our market leading products, strong brands, tight cost control measures and, particularly in South Africa, improved operational efficiency."---RG