The lifting of Covid-19 restrictions allowed the revenue of the bathroom supplies group behind the Triton and Johnson Tiles brands to more than double in its most recent fiscal year.
Shower and tile maker Norcros announced a 117% increase in group revenue in the 13 weeks to July 4, 2021, compared to the same period in 2020. The total was also 19% higher to the figure published in 2019.
The Wilmslow-based company added that its UK revenue was up 96% while sales in South Africa jumped 170%.
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In the UK, the group’s brands also include Merlyn, Vado, Croydex, Abode and Norcros Adhesives. Its South African brands are Tile Africa, Johnson Tiles South Africa, TAL and House of Plumbing.
A statement issued on the London Stock Exchange said: “Our UK business continued to perform well with revenues for the 13 week period 23% higher than in 2019, reflecting increased activity in the RMI sector and market share gains with Triton and Merlyn continuing to perform extremely well.
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âOur South African business also continued to outperform, with revenue for the 13-week period 20% higher than 2019 at constant exchange rates, with Tile Africa continuing to benefit from higher demand and market share gains in the commercial renovation market.
âAlthough we have experienced some disruption due to the recent period of social unrest, the impact on our business to date has been limited and the current situation is stable.
“The safety and well-being of our employees remains our priority as we continue to monitor the position.”
Managing Director Nick Kelsall said: âWe continued to outperform the market in the first quarter of this fiscal year thanks to our focused strategy and our market leading brands, supply chain and customer service, ensuring that we capitalize on the strength of our proposal and the robustness of demand in our main markets.
âA normalization of consumer spending habits, the continuation of the supply chain and the disruption of Covid-19 mean that market conditions are likely to remain uncertain.
“Nonetheless, the Board of Directors remains confident that the group will continue to gain market share and grow in line with its expectations for the current year.”