Norcros Share Discussion Threads

[prop_joe] 11/12/2015 11:03

Ongoing broad based economic recovery in Ireland could offset any weakness in S Africa?

[mammyoko] 11/12/2015 10:22

Only the profit in SA is exposed to currency weakness. Natural hedge due to costs also being denominated in Rands

[muckshifter] 11/12/2015 09:42

Well said rivaldo. A touch of integrity on advfn - quite a rarity, and very welcome.
Regards.

[rivaldo] 11/12/2015 09:07

Had a change of heart and decided to sell my (relatively small) holding at essentially break-even.

This is because of the deteriorating situation in South Africa,

The weakening of the rand has accelerated since the September interims, and yesterday got a lot worse after the unexpected sacking of the South African Finance Minister:



Plus confidence in the SA economy has worsened considerably given the rout in commodity prices, which may accelerate a decline in consumer purchasing there.

Other SA-biased stocks got hammered yesterday. NXR may or may not also come under a little pressure.

Good luck all.

[rivaldo] 08/12/2015 11:41

Numis today reiterate their 300p target and Buy recommendation:

[rivaldo] 07/12/2015 14:33

It's Small Company Share Watch magazine - excellent write-up for NXR this weekend:

[valmoran] 07/12/2015 14:25

Can someone tell me who is SCSW ? Tried to look it up without success ?

[aylingd] 07/12/2015 08:49

Been monitoring this for a bit; director renumeration has been highlighted as a possible issue by some. Any body else have a view on whether the CEO is worth his nearly £1million ? Can't really see any other negatives.

D.

[amencorner] 06/12/2015 10:37

loganair;I don’t think it would be fair to paying subscribers this early (only out yesterday) to copy the whole write up. For a fair compromise I have included the flavour of the text below:

Share consolidation from a position of strength
Strong momentum in various business divisions
Overall all stuff we know from the recent RNS/results from Norcros and SCSW are very positive about the prospects for the business: they final comment is keep on the buy list.

[loganair] 06/12/2015 09:59

amencorner - any chance of posting the article by SCSW...

[amencorner] 06/12/2015 02:27

A very positive update up on NXR in the December 2015 issue of SCSW: encouraging to see.

Unfair to comment further this early as SCSW is a subscription service.

[davr0s] 03/12/2015 08:52

2.2p ex divi today and price hasn't budged ;)

[glaws2] 01/12/2015 07:29

Strong results from TPT - possibly a read across into Johnson tiles - which could do with a boost

[rivaldo] 30/11/2015 09:32

RNS - good news, with Fidelity buying more and now with over 6m shares, or almost 10% of the company:

[simon templar qc] 26/11/2015 13:06

Certainly undervalued and with government seeking to increase more house building the company is more secure than the market realises.

[rivaldo] 25/11/2015 10:45

Edison's new report has "increased current-year EPS estimates by 6.7% and by just over 2% in both FY17 and FY18".

They now go for:

this year : 21.1p EPS, 6.4p divi
next year : 22.6p EPS, 6.8p divi



Conclusion:

"Valuation: Good value and potential for more

Following our increase in estimates, Norcros’s P/E multiples are now in single digits in all three forecast years. With a three-year EPS CAGR of 11.1% the company’s PEG ratio is 1.0x. In EV/EBITDA terms, an FY16 5.7x multiple reduces to 4.5x by FY18 on our estimates (after adjusting for pensions recovery cash). Business performance is good and if Norcros can further supplement this with more acquisitions, the above multiples could turn out to be significantly lower at the current share price"

[simon templar qc] 17/11/2015 16:53

Looks to me like institutions are continuing to pick up stock and any institutional selling outweighed now by buying. So that should see a stronger share price.

One would expect the share price to slowly gain traction as time goes on, although the markets are weak at present investors are more inclined now to be careful where they invest and its stock like Norcross which could rebound quicker in tough times due to its strong management and track record.

[edmundshaw] 17/11/2015 12:58

rivaldo, cannot disagree.

GH has has a consistently strong investment record, so always good to see he is on the same side of an investment.

[rivaldo] 17/11/2015 08:30

Holdings RNS - good to see Giles Hargreave's Hargreave Hale rapidly increasing their stake to over 7m shares, or 11.5%, from 5.66m shares:

[simon templar qc] 13/11/2015 16:27

But for bad markets I would have expected a new short term high on interims.