Norcros Announces Positive Pension Scheme Valuation Outcome

The latest update is out from Norcros ( (GB:NXR) ).

Norcros plc has successfully concluded negotiations with the Trustee of its legacy defined benefit pension scheme, resulting in a reduced actuarial deficit and a decrease in cash contributions from 2027. The valuation, agreed upon in April 2024, updates the previous deficit of £36.0m to £11.7m, with a funding level of 96%. This agreement will direct future contributions to an escrow arrangement once the scheme is in surplus, minimizing the risk of overfunding. The positive outcome reflects the strong relationship between the company and the Trustee, ensuring the scheme remains healthy and financially stable.

More about Norcros

Norcros is a leading group of brands specializing in design-led, sustainable bathroom and kitchen products across the UK, Ireland, South Africa, and select export markets. The company offers mid-premium product ranges known for their innovation, design, and sustainability, supported by industry-leading service. Norcros has grown through acquisitions and organic development, becoming the top bathroom products group in the UK and Ireland, with potential for further expansion.

YTD Price Performance: -14.40%

Average Trading Volume: 161,423

Technical Sentiment Consensus Rating: Hold

Current Market Cap: £194M

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