* Full-year profit to fall short of its expectations
* Says UK, South Africa markets challenging in December
Feb 16 (Reuters) – Norcros Plc, a maker of
bath showers and floor tiles, said full-year adjusted profit
will be slightly below its prior expectations due to weakness in
its major markets.
The companty said revenue for the 18-week period ended Feb.
5 fell 3.1 percent on a reported basis, and rose 0.9 percent on
a constant currency basis.
“Market conditions in the UK and South Africa were
particularly challenging in December reflecting the earlier and
longer than expected Christmas shutdowns in our major markets,”
Norcros said in a statement.
In November, Norcros — which operates brands such as
Johnson Tiles and Triton Showers — said rising commodity costs
had prompted it to restructure its cost base.
Norcros shares have lost about 30 percent of their value in
the last eight months.
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