Norcros - Investor Presentation (Interim Results) - 1 December 2025

Thomas Willcocks (CEO) and James Eyre (CFO) of Norcros plc conducted an Investor Presentation covering Interim Results for the period to 5th October. Highlights included an increased underlying operating profit (+7.4% to £21.9m) and operating margins up 70bps to 11.9% (with UK & Ireland +120 basis points to 14.8%). The company posted Group LFL revenue growth of 0.8% in a challenging market, an 11% increase in EPS, and excellent cash conversion of 107%. Management provided a detailed financial overview, updated investors on the momentum of strategic initiatives and discussed the acquisition of Fibo (Norway) and closure of Johnson Tiles SA. The team then answered a wide range of questions submitted by the audience. Norcros specialises in design led, sustainable bathroom products across the UK, Ireland, Scandinavia, South Africa, and select export markets - the latest research report from Equity Development on the company's shares is freely accessible here: https://www.equitydevelopment.co.uk/research/norcros-hiding-in-plain-sight The full video has been divided into chapters, as below: 0:00:03 Introduction & Highlights 0:05:07 Financial Review 0:13:09 Strategic Progress (including Fibo Group acquisition) 0:26:40 Summary & Outlook 0:28:05 Questions & Answers