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Norcros settles dispute with Morrison

15 May 2015 12:07

Norcros, the market leading supplier of innovative branded showers, taps, bathroom accessories, tiles and adhesives, announced that the contractual dispute with Optimisation Developments, a subsidiary of WM Morrison Supermarkets, regarding the conditional sale of part of its surplus land holding at Highgate, Tunstall, has been settled.

The terms of the settlement are confidential for legal reasons, but they are not significant in the context of the Group's financial position. This settlement, net of costs, will be treated as an exceptional item in the accounts for the year to 31 March 2016.

The site at Highgate, Tunstall, which has been the subject of this dispute, has subsequently been disposed of, forming part of the portfolio freehold property sale announced on 24 December 2014.

At 12:07pm: (LON:NXR) Norcros PLC share price was 0p at 16.75p

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