Norcros

NXR · Main Market · Construction and Materials · mcap £263m · 308.0p

Norcros makes and sells bathroom and kitchen products such as showers, taps and wall panels under brands including Triton and VADO. It sells mainly in the UK, Ireland and Europe, with a business in South Africa.

Target	Promise	Said	Status
Today · 16 Oct 2026
2027
31 Mar 2027	Fibo acquisition materially earnings accretive in first full year of ownership	15 Jul 2025	… In progress
	“The Acquisition will be materially earnings accretive in the first full year of ownership.” Also stated 13 Oct 2025 How it developed 15 Jul 2025 Said “the Acquisition will be materially earnings accretive in the first full year of ownership.” 13 Oct 2025 Said “The Acquisition will be materially earnings accretive in the first full year of ownership.” Status so far Not yet due.
31 Mar 2027	FY27 underlying operating profit in line with market expectations	15 Oct 2026	… In progress
	“the Board expects full year underlying Operating Profit to be in line with market expectations” Status so far Not yet due.
FY27	Johnson Tiles SA closure to be cash neutral when complete	23 Jun 2025	… In progress
	“The closure process, including the manufacturing and business closure costs and subsequent inventory realisations, is expected to be cash neutral when complete.” Status so far Not yet due.
31 May 2027	Sell South African operations, completing repositioning to UK and Europe	12 May 2026	… In progress
	“This is a significant strategic step for Norcros as we continue to build a more streamlined, capital-light and cash-generative business focused on mid-premium bathroom markets in the UK and Europe.” Status so far Not yet due.
30 Jun 2027	Pension cash contributions to fall materially from June 2027	13 Mar 2025	… In progress
	“the Company's cash contribution materially decreases from June 2027” Status so far Not yet due.
31 Dec 2027	VADO and MERLYN bathroom range collaboration benefits to flow from second half of 2027	11 Jun 2026	… In progress
	“we expect benefits to start to flow through in the second half of 2027” Status so far Not yet due.
2028
2028	Deliver SBTi-validated emissions targets by 2028, cutting scope 1 and 2 emissions 33.6%	1 May 2024	… In progress
	“We have set carbon targets to reduce scope 1 and 2 GHG emissions by 33.6% by 2028 (2023 base year)” Also stated 13 Jun 2024 · 21 Nov 2024 · 12 Jun 2025 · 20 Nov 2025 How it developed 1 May 2024 Said “Delivery of SBTi-validated science-based emissions targets by 2028” 13 Jun 2024 Said “Delivery of SBTi-validated science-based emissions targets by 2028” 21 Nov 2024 Said “We have set carbon targets to reduce scope 1 and 2 GHG emissions by 33.6% by 2028 (2023 base year)” 12 Jun 2025 Said “Delivery of SBTi-validated science-based emissions targets by 2028” 20 Nov 2025 Said “We are ahead of 2028 SBTI plan (33% targeted reduction in carbon emissions)” Status so far Not yet due.
2028	Achieve Carbon Net Zero alignment by 2028	7 May 2024	… In progress
	“ambition to achieve Carbon Net Zero alignment by 2028” Status so far Not yet due.