Materials firm hit by weak building markets and high energy costs

UK-based building materials group Norcros has reported a 31% fall in pre-tax profit for the six months ended 30 September 2008.

The company, which operates the Johnson Tiles and Triton shower businesses, said the weak residential and commercial markets had hit trading, along with a £2.5m increase in energy costs.

Turnover fell 7% from £84.3m to £78.6m.

John Brown, chairman of the group, said: “The trading and economic environment remains difficult and the board does not expect any improvement in the short term in business conditions.”

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