Norcros Share Discussion Threads

[davr0s] 23/7/2015 14:14

Looks like someone been loading up after yesterday's dip. Hopefully once they have had their fill we can resume the rise.... It's taken patience here but finally coming good

[nw99] 23/7/2015 14:12

Bought more here

[rivaldo] 23/7/2015 14:07

Moving up after 5m shares traded today so far - overhang cleared?

I also topped up with a few after the dip.

[1fox1] 22/7/2015 16:00

Just bought back in at 20.18p after selling at 22p. Can't believe my luck:o)

[davr0s] 22/7/2015 13:26

And looks like I am in good company as a 1m buy looks like it's just gone through... Will see if the price drifts up now

[davr0s] 22/7/2015 13:21

I've added as healthy pullback and strong buying now at 20.5

[simon templar qc] 22/7/2015 13:21

Ed,

Thanks fall well overdone but today is a bad market and Footsie well down. I happen to think growth is OK. Nothing in RNS concerns me.

[glaws2] 22/7/2015 13:11

Ed - many thanks for asking the questions and your feedback. It is very much appreciated.

[ed 123] 22/7/2015 12:59

AGM went well. No presentation (as expected) but shareholders had a chance to ask questions.

Glaws2.

Reference your questions:

(1) UK trade buying of Norcros products is buoyant. It's the retail customers who are under active. Management are hoping that, when UK retail customers become more confident, they will buy more Norcros products.

(2) The plan is go grow by a combination of organic and acquisition. There is a stated target (£420M rev. by 2018) but they say, any acquisition will have to be a good fit and a good price. They won't just bulk up indiscriminately. I get the feeling that they'd let the target date (2018) slip if the right opportunities didn't arise.

Also, the pension deficit was discussed, as was the property situation. Nothing new was disclosed (as expected). Some previously RNS'ed information was repeated and some explanation given to help understanding.

It was a friendly meeting at a pleasant venue.

FWIW, I didn't hear or see anything to make me sell, so I'll continue holding. (No advice intended.)

[1fox1] 22/7/2015 10:26

One has to ask the question who's not up to the job in the UK retail sector. TPT flying atm

[loganair] 22/7/2015 10:16

Glaws2 - I agree as in my good opinion Norcros needs to be growing their UK business by no less than 10% in such a buoyant market place.

[glaws2] 22/7/2015 10:12

I think the fall was expected on that update - no improvement in UK business in what is the hot sector at the moment

[rivaldo] 22/7/2015 10:06

AGM update today was perfectly satisfactory overall.

In line with expectations is just what is to be hoped for at this early stage of the year. OK, retail is sluggish, but everything else seems fine.

If NXR was cheap before, then it's even cheaper now given we know that trading is in line.

Hopefully Ed or others will be able to report back from the AGM with more.

[ed 123] 15/7/2015 17:45

Ta, Glaws2. :)

[glaws2] 15/7/2015 15:09

Ed - I'm afraid I can't make the AGM. I guess the obvious questions are :

1. Why they are finding the UK market challenging (profits fell last year) when the rest of the sector is booming.

2. What level of organic growth do they believe the UK business can achieve in order to deliver the 2018 revenue target of £420m.

[simon templar qc] 15/7/2015 15:00

The adhesives just won an award lately its showing fast growth...



"Norcros Adhesives Awarded Excellence in Marketing by The Tile Association"


"Local manufacturer, Norcros Adhesives, beat off strong competition to win a prestigious, national award from The Tile Association for their creative marketing campaign that led to a 31% increase in sales of their ready-mixed tile adhesives."

[ed 123] 15/7/2015 14:40

...I look forward to the future with optimism"

Well, jolly good! I look forward to the future with optimism too. However, I still get rained on from time to time.

I'll be at the agm, a week today. Anyone else going? Anyone got a question they'd like me to ask?

[loganair] 15/7/2015 14:35

Norcros rise maybe a case of buy on the rumour of good news and sell when the good news comes out.

[simon templar qc] 15/7/2015 14:05

AGM next week, I expect to see a positive statement.

[simon templar qc] 15/7/2015 13:13

log

I suspect 30 pence before the interims the company will probably have an upgrade on eps before long. Pe ratio far too low.

[loganair] 15/7/2015 12:54

In my good opinion one is likely to see the share price rise to 30p by the end of the year without any takeover.

[technofiend] 15/7/2015 12:52

I guessing whatever hangover existed has cleared.

Takeover at 30p would be happy with me.