Share Name Share Symbol Market Type Share ISIN Share Description
Norcros LSE:NXR London Ordinary Share GB00BYYJL418 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.00p -0.71% 140.00p 140.00p 146.00p 146.00p 138.00p 145.00p 49,918 16:35:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 235.9 15.4 21.4 6.5 85.76

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Date Time Title Posts
19/10/201616:29Time to take a shower in Norcros shares.2,684
21/6/201619:19Norcros plc NXR144
27/2/200822:05Do they make RAIN showerheads ? !20

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Norcros Daily Update: Norcros is listed in the Construction & Materials sector of the London Stock Exchange with ticker NXR. The last closing price for Norcros was 141p.
Norcros has a 4 week average price of 147.13p and a 12 week average price of 158.57p.
The 1 year high share price is 208p while the 1 year low share price is currently 137p.
There are currently 61,259,666 shares in issue and the average daily traded volume is 50,772 shares. The market capitalisation of Norcros is £85,763,532.40.
andrewbyles: Hello Charlie. I wrote to the Chairman directly at Norcros' head office in Wilmslow on October 4th 2016 and received a detailed letter in response on October 11th 2016. I wrote the letter out of concern that the CE's share sale was being misinterpreted by the market and pushing the share price down to a three year low. I mistakenly complained about 50% of the CE's bonus being paid in shares, suggesting that there was no point if they were just going to be sold straight away - it was a mistaken complaint because I now realise that the shares are deferred for three years (which seems to me a good way to incentivise management to act in ways that will increase the share price in the medium term). I asked the Chairman to urgently arrange for the company to issue a statement addressing the share sale before it created a greater loss of confidence in the share price. It probably didn't play any role in the trading statement that was issued a few days later, but all the same it's encouraging that management are trying to take steps to reassure the market. The Chairman seems confident that the expansion strategy will lift the share price in time and it's encouraging that sales are up, debt is falling and profits are on target. He finished the letter by offering me a meeting with him and the CE (I also own quite a lot of shares). I don't think I'll take the offer up, but his willingness to offer it shows some confidence. I think Norcros is well run (the year on year increase in profits and dividends, the significant cash generation, and the successful intergration of new businesses shows that), but I do wonder whether communications with the market could be improved.
charlie: Andrew did you write direct to the chairman or via management? If direct what address did you use for the chairman? Can you put it up here and then edit...or you can send me a personal message through the site (click on my username). At the moment I'm probably not going to write, but I am in two minds about this. I have always thought, and still think, the CEO remuneration is reasonable. Not exactly low, but reasonable for a job well done - and on most financial metrics - except pension funding and share price, which are largely uncontrollable in the short term - it has been a job well done. I have voted for the Remuneration Report each year, as did 99.9% of votes cast (and I have enough shares that they would definitely notice if I voted against). BUT it bothers me considerably that there is an increasing drumbeat of criticism of "greedy" management, and perhaps people selling or refusing to invest because of this belief. I don't agree with the criticism, but the perception is a problem.
andrewbyles: I wrote to the Chairman a couple of weeks ago about the CE's share sale and having received his response the matter is rather different to what I thought it was. It's true that the CE sold all of the shares that he received a couple of weeks ago, but: (i) Half of his annual bonus is paid in shares; (ii) That part of the bonus paid in shares is deferred for three years; (iii) The shares he sold a couple of weeks formed his 2013 bonus for performance in 2012/13; and (iv) By deferring the shares for three years the CE has an incentive to what he can to increase the share price as if he's successful his bonus will be greater, whereas if the price falls in those three years so will the amount of his bonus. It's not wholly correct that the CE always cashes in shares - last year he sold half, but explained that he did so in order to pay the tax that fell due on them (something which seems to be quite common). The Chairman also reminded me that Norcros' Remuneration Committee has an objective that its directors own at least a year's salary worth of shares (the CE owns 1.3% of the company so exceeds that requirement). The new finance director has been purchasing shares this year.
loganair: Personally I am not worried about the share price, what I am happy to see is a YOY increase in the dividend which so far seems to be the case at Norcros. As Edison are estimating a dividend of 7p for 2017 and 7.5p for 2018.
andrewbyles: It would take a severe recession to send the share price below a pound. The share price will recover in early November when the interim results are announced. Although it was foolish of the Chief Executive to sell his full share award last week, trading must at least remain in line with the announcement given at the AGM as otherwise he would be in danger of insider trading.
maurillac: yes agreed. it does not instil much confidence ! been invested here since 2014 - the divis are fine but its beginning to look like the share price will never move up ... m
andrewbyles: Thank you ali47fish. I've checked the other LSE website and it says 159.75, so pretty much the same For a very brief moment I was hoping that maybe Softbank were going to announce a takeover at a 50% premium to the share price and that was why the buy price had jumped! It now looks as though it hasn't and there's just an error on ADVFN's website (and strangely Barclay's stockbrokers too). More realistically, we should receive a trading update at the AGM a week on Wednesday and hopefully that will assist the share price.
andrewbyles: Lots of people have commented on the results loganair, but they're in "Norcros Plc NXR" thread. I agree Solrei that the fall is overdone. The market is irrational at the moment - yesterday Persimmon issued a positive trading statement and its share price fell considerably; today Topps Tiles issued a positive trading statement and saw its share price fall too. I posted this link in the other thread the other week and remain of the view that it's encouraging:
imranawan: Loginair, I agree with your points about the NXR share price being disappointing. I've only held it for around 9 months, and its done very little in that time. I bought into Topps and sold out shortly after they issued their interims, and am kicking myself as they have risen strongly since then. I also agree that NXR appears to be undervalued, but I can't see any share price rise in the short-term. I think the catalyst in share price would be if they made an acquisition to achieve their aim of increasing revenues to £400m.
loganair: For me the NXR share price is not really that important as long as I'm not making a loss. What is important to me and matters is the dividend, as long as it rises by 5% or more then I'm very happy - and the company has reduced it's debt from the previous report.
Norcros share price data is direct from the London Stock Exchange
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