Norcros (LSE:NXR) will explore a sale of its South African business unit, opening a process to divest TAL, Tile Africa and House of Plumbing as the group pivots to a capital-light UK and European focus.
Norcros, the market-leading group of design-led, sustainable bathroom brands across the UK, Ireland and Scandinavia, said Norcros generated revenue of £99.4m and underlying operating profit of £6.7m in the year ended April 2025, with both figures excluding discontinued Johnson Tiles South Africa and profit shown pre central cost allocation, the group said.
The Board expects any sale process to take approximately 12 months and to be subject to a customary South African competition review.
The announcement frames the potential disposal as the final step in a strategic repositioning that follows exits from Johnson Tiles UK in 2024 and Johnson Tiles South Africa in June 2025 and the acquisition of Fibo in Norway in October 2025.
"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," said Thomas Willcocks.
The Group will publish full-year results for the 53 weeks ended 5 April on 11 June.
