Our business

Consistent standards. Considerable resources.

Overview

We have a well established, successful track record of serving consumers, architects, designers, developers, retailers and wholesalers. Our emphasis is on strong branding, contemporary designs, trusted quality, outstanding service, innovation and breadth of range. We base our business on understanding our customers’ needs. Norcros is a substantial group with consistent, high quality standards and considerable resources. We invest significantly and continuously in our people, brands, product development and processes and we aim to develop our business in both the quality of our products and the scale of our activities.

Our Group

We organise our Group into two geographic areas: the UK and South Africa. This gives us a combination of well established businesses with strong market positions and growth opportunities in new markets.

In the UK

We operate through seven complementary and market leading businesses with strong brands: Triton ShowersMerlynVado, Croydex, AbodeJohnson Tiles, Norcros Adhesives.

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In South Africa

We are a leading manufacturer of ceramic tiles and adhesives and a leading retailer of these and associated products, such as sanitaryware, under the Tile AfricaJohnson Tiles South AfricaTAL and House of Plumbing brands.

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 Investment case

 Delivered a decade of sustained growth

  1. Organic revenue growth enhanced by acquisitions
  2. UK profit growth, South Africa turnaround and exit Rest of World
  3. Strong return on Capital
  4. Track record of progressive dividend growth

Well positioned for future growth

  1. Cohesive portfolio of specialist, well invested, market leading businesses with strong brands
  2. Well-developed acquisition pipeline with potential to add complementary brands
  3. Market share opportunities in current geographies from failures of under‑capitalised competitors in fragmented markets
  4. Strong financial position