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NXR sees underlying FY op. profit up on views

14 April 2016 09:17

Norcros said group underlying operating profit for the year is expected to be marginally ahead of market views.

Group revenue for the year is expected to be in the region of GBP236m, from GBP222.1m, 6.3% higher than the prior year, 11.0% higher on a constant currency basis, and 2.9% higher on a constant currency like for like basis.

UK revenue for the year was 9.3% higher than the prior year reflecting the first time contribution from Croydex which was acquired on 25 June 2015.

Croydex continued to perform strongly in line with the Board's expectations. On a like for like basis2, UK revenue was 2.2% lower than the prior year reflecting more challenging conditions in a number of UK retail channels and export markets.

"Our South African business continued to perform strongly recording double digit constant currency revenue growth in the second half of the year, resulting in full year revenue growth of 15% on a constant currency basis," the company said.

"The South African Rand was 15% weaker than the prior year and consequently, South African revenue, on a reported Sterling basis, was in line with the prior year."

At 9:17am: (LON:NXR) Norcros PLC share price was +4.5p at 175.5p

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