Norcros Share Discussion Threads

[amencorner] 08/10/2015 07:39

A good trading update today and delivered in the usual shy Norcros way. The Croydex integration also appears to be going very well; surely the market will start to smile on NXR and see some movement North.

The brokers have a target price of 240p for 2016; I don’t usually pay much attention to their targets but all in all IMO this stock has real positive potential.

[ed 123] 05/10/2015 16:43

Watching today's action, share price firmed up and bid rose to tighten the spread. Closing auction 197/198p. Looks encouraging. Interims next month.

[sleepy] 02/10/2015 19:21

Is an alternative to sell 90% of the shareholding for £0.00p?

[edlndn] 02/10/2015 17:07

Ah,ok. Many thanks! goodbye 976% fake profit.

[bakero] 02/10/2015 17:02

You have to do it yourself (or at least I haven't found a better way).I just "sold" all my shares at cost then bought back at same total cost but with 1/10th of the number of shares

[ed 123] 02/10/2015 16:52

Pass. If you message advfn, they'll answer your query.

[edlndn] 02/10/2015 16:28

Anyone know how to update your portfolio on ADVFN so it takes into account the consolidation? Is it something I can fix or do ADVFN catch up later? Thanks in advance!

[loganair] 01/10/2015 11:57

In my good opinion a 'Consolidation' is all about the directors egos as they do not like to see a once 100p plus share at 20p or 10p or even 5p as it shows how badly they've been running their respective companies.

Cookson once £6.50 dropped to 30p 'consolidation' price to £3 then slowly over many, many years very slowly rose to £6, however the current £6 is only really worth 60p as the old £6.50 is worth £65 in new money. RSA and BWIN have also done the same.

Shell did it the other way round their £20 share was split to become a £4 share and very quickly rose to £6 then £8 or equivalent to £40 per original share and now look where it is today back up to the price it originally was, but each share being worth 5 times the original or £100 per share....well done Shell!

Once the companies shares have been consolidate all of a sudden a 10p share becomes a £1 share, a 20p share becomes a £2 share and naturally the overnight EPS will also increase by ten fold.

It is easies for a share to double in price from 10p to 20p than it is from £1 to £2.

[dvb99] 01/10/2015 10:34

Punters like penny shares, and institutional funds tend to invest based on market cap!
Completely pointless and costly exercise imo.

[simon templar qc] 01/10/2015 09:27

The consolidation made a marked difference!

Liquidity seems to have gone worse not better.

Punters tend to like penny shares.

[ed 123] 30/9/2015 13:31

Yes, I've experienced a few consolidations, and I haven't seen any benefit from any of them. To get the spread down it needs more participants on the order book and a greater volume of shares traded.

Fwiw, I voted in favour of this at the AGM. I know from a previous case that the cost is relatively small, so better to get it out of the way if management want to do it. Then they can get on with running the business itself.

I see Topps Qtr 4 lfl sales were up 5%. I wonder if there's been any uplift at Johnsons?

[trigger blade] 30/9/2015 12:53

It looks to me as though the spread has gone up from what used to be 0.5p to 10p,so it's effectively doubled, although I haven't tried to buy or sell, so it could be narrower.

[mctmct] 30/9/2015 09:51

The directors said:

Share consolidation
Background
The Company has a large number of ordinary shares in issue. The share consolidation is based on every ten existing ordinary shares of £0.01 each (Existing Ordinary Shares) being consolidated into an ordinary share of £0.10 (a New Ordinary Share) with the intention that, following the share consolidation, the number of shares in issue will be more appropriate for a company of Norcros’s size in the UK market. The share consolidation may also help to make the Company’s shares more attractive to investors and may result in a narrowing of the bid/offer spread, thereby improving liquidity



Which seems like an unnecessary waste of time, IMO. We shall see.

[death by donut] 30/9/2015 09:26

Now thats what i call a blue day, 800%odd . :-) lol.

[davr0s] 30/9/2015 09:10

My spreads were showing my holding as 10bagged overnight but regrettable they have now changed this !

[trigger blade] 30/9/2015 09:09

I don't think I could trade if I wanted to. My account says my shares are now worth zero, I assume they're sorting out the consolidation thingy.

[davr0s] 30/9/2015 08:38

Sorry meant 7% spread...

[davr0s] 30/9/2015 08:31

Are we alive. 7% trade post split and not a single trade...?

[davr0s] 29/9/2015 16:30

Disappointing drop on naff all volume

[rivaldo] 21/9/2015 11:59

New note today from Edison, going for 2p EPS and a 0.6p divi this year, with 2.2p EPS and a 0.65p divi next year:



Conclusion:

"Valuation: Shares heading towards a new high

FY15 results and the Croydex acquisition were well-received and, currently at
c 20p, the Norcros share price is c 11% above the level at the start of the year. The company’s growth prospects are good (our estimated three-year normalised EPS CAGR is 10%) and this could be enhanced further by the actions described above.

On a current year P/E of 9.6x and adjusted EV/EBITDA of 5.5x, we would expect
the share price to move beyond its current all-time high (24.75p in January 2014)".

[amencorner] 15/9/2015 07:59

Conversely a silly drop of 0.75p which is routine day to day with NXR is to my mind less likely when we talk in terms of a -7.5p move. I feel the daily fluctuations will be less of an effect in both directions after the consolidation.

[loganair] 14/9/2015 13:16

Ed - do not like such things as the stock will have to rise 10p to be the equivalent of just a 1p rise at the moment. NXR is more likely to rise 5p at the moment then 50p are the 'Consolidation.'

[mctmct] 14/9/2015 11:23

Thanks - I had missed it. Did they explain what the reason was?

Any idea what is behind the large trades today?