Norcros' shares rise on seventh year of profit, dividend growth

14th Jun 2016 11:41

(ShareCast News) - Bathroom products company Norcros has turned in improved full year profit, revenue and dividend, sending its shares up more than 5%."The result reflects the successful acquisition strategy and the sustained focus on driving organic growth through market share gain, investment in new products, operational efficiency programmes and geographic expansion," said chairman Martin Towers."The recent acquisitions, together with our developing pipeline, give me confidence that we can achieve our medium-term strategic objectives," he added.The company, reporting its seventh consecutive year of growth, upped its total dividend to 6.6p a share, from 5.6p, as pre-tax profit came in 40.2% higher at £15.4m, from £11.0m. Revenue was ahead 6.3% at £235.9m, from £222.1m.At 11:46 BST, shares in Norcros were up 5.2% to 182p.