For the year ended 31 March 2023, Norcros' board is recommending a final dividend of 6.8p (2022: 6.9p) per share. When combined with the interim dividend of 3.4p (2022: 3.1p) per share, which was paid on 10 January 2023, this will make a total dividend for the year of 10.2p (2022: 10.0p) per share, a 2.0% increase on the previous year.
Other financial highlights include:
The resilience of the Group's business model in challenging market conditions
Strong execution of strategy
Record full-year revenue of £441.0m (2022: £396.3m), 11.3% higher than the prior year on a reported basis and 1.5% higher on a constant currency like-for-like basis after adjusting for Grant Westfield
Record underlying operating profit of £47.3m, 13.2% higher than the prior year (2022: £41.8m)
Underlying net debt of £49.9m (2022: net cash of £8.6m)
Underlying ROCE of 18.5% (2022: 23.9%)
Diluted underlying EPS of 37.4p (2022: 38.2p)
The acquisition of Grant Westfield completed in May 2022, successfully integrated and performing strongly
