Overview

Norcros operates in three geographic regions:

UK
In the UK the Group has three businesses involved in the manufacture of home consumer products:

Triton is the market leader in the manufacture and marketing of domestic showers in the UK, with a strong position in electric showers and an increasing presence in mixer showers. Triton also exports products to the Irish Republic and other overseas markets.
Johnson Tiles is a leading manufacturer and supplier of ceramic tiles in the UK.
Norcros Adhesives, a complimentary tile adhesive division and specialists in complete tile fixing systems.

South Africa
Norcros SA operates through three divisions and is a leading manufacturer and retailer of ceramic tiles and adhesives in South Africa under the 'Johnson', 'Tile Africa' and 'TAL' brands, with a complementary sanitary ware offering.

Rest of World
The Group has a wholly-owned subsidiary in Australia, again selling tiles under the 'Johnson' brand. Norcros also has an associate in Greece manufacturing tiles and adhesives.

Headline financials

As at the end of March 2010 (Financial year is 31st March) the Group reported turnover of £169.6m and trading profits of £7.3m.

Corporate information

Registered Office:
Norcros plc
Ladyfield House,
Station Road,
Wilmslow,
Cheshire,
SK9 1BU

Telephone: +44 (0)1625 549010

Directors
Non-Executive Chairman: John Brown (appointed in 2007)
Group Chief Executive: Joseph Matthews (Joined the company in 1974)
Group Finance Director: Nick Kelsall (Joined the company in 1993)
Director and Company Secretary: David Hamilton (Joined the company in 1973)
Non-Executive Director: Leslie Tench (appointed in 2007)
Non-Executive Director: Jamie Stevenson (appointed in 2007)
Non-Executive Director: Vijay Aggarwal (appointed in 2009)

Summary of principal businesses

Triton

Triton designs, manufactures and distributes domestic showers for the UK and Irish markets mainly under the 'Triton' brand name. Its main products are electric showers and mixer/power showers. Points of interest as follows:

Market leader in the UK market for electric showers
Growing market share in the UK 'mixer' shower market
UK's most widely known brand of shower
Wide distribution base with strong relationships
Strong focus on product innovation and customer service
Ongoing growth opportunities in the UK and export markets
Shower penetration per household in the UK is 70%; Europe and the USA shower penetration > 100%
80% of Triton owners replace their showers with another Triton product

Johnson Tiles

Johnson Tiles is the leading UK manufacturer of ceramic wall and floor tiles. The company's current share of the UK market is just over 10%. Points of interest as follows:

Leading UK manufacturer in a growing market
Comprehensive product range and state of the art manufacturing facilities
Integrated tile adhesive operations in order to maximise market opportunities
Increased focus on design, marketing and new product development
Wide distribution base with strong relationships
Strong focus on customer service
UK household tile penetration is one third of that elsewhere in Northern Europe
UK demand for tiles is growing due to the trend for second bathrooms/laundry rooms etc and larger kitchens
The market for new housing remains sound where greater usage of tiles is common

Norcros South Africa

Norcros South Africa the holding company controlling Johnson Tiles (JTSA), Tile Adhesives (TAL) and Tile Africa Group (TAF). Norcros has been in South Africa for over 50 years. Points of interest as follows:

Strong position as regards manufacturing (JTSA & TAL) and retailing tiles (TAF) in South Africa
Leading position in tile adhesives
Current usage of tiles in South Africa is far below comparable climates such as Brazil
South Africa is currently enjoying buoyant construction activity
Increasing disposable incomes are resulting in a significant increase in the refurbishment of homes
Barriers to entry for new players very high
High level of customer service
Potential to expand retail outlets