Norcros Share Discussion Threads

[betman] 12/6/2017 13:15

Final results due on Wednesday. Downward share price is worrying, is there bad news and a leak ? Or is someone manipulating the price down to buy on the cheap ?? This appears to be a reasonable buying price ( with approx. 4% YIELD ) if economies continue to grow in UK and SA. Value of the Rand is always a worry although Sterling not too hot post election. I think all political parties are keen on housebuilding so that should be positive

[jg88721] 11/6/2017 22:49

you can join me CWA1 if you trade on it ! ;0)

What will be news this week is margin performance. UK was essentially flat profit YoY at the interims, with Croydex and Abode doing well, but offset by Triton and JOhnson. But UK LFLs at the interims were -5% (this excludes Abode), but they were +8.3% in 2H (and Abode met expectations). SO I'm expecting some good profit growth in UK 2H; and South Africa should be good too - as the interim profits were really good for South Africa and revenue in 2H grew at much the same rate as in the first half.

Pensions is the other news. EU bonds are up a bit since the interims, so hopefully they don't need to reduce the discount rate again?.

[ali47fish] 11/6/2017 18:11

thanks jg very much!

[cwa1] 11/6/2017 13:32

A jail cell for releasing insider information Mr Chairman? ;-)

[jg88721] 11/6/2017 09:38

ali47fish
Any insights on what to expect in the upcoming update?. Well, I'm picking:
- revenue to be in the region of £271m, which will be 14.9% higher than the prior year, 10.6% higher on a constant currency basis, and 4.0% higher on a constant currency like for like basis;
- an eighth consecutive year of revenue and underlying operating profit growth;
- an impairment charge of around £2.3 million, treated as an exceptional operating item, for the Johnson Tiles reorganisation;
- net debt to be around £24m (vs £32.5m last year);
- the outlook statement to express confidence that the Group is well placed to make further progress.

Any prizes if I get all of these right?
(PS, See the trading update in May).

[ali47fish] 10/6/2017 16:09

so does anyone has any insight as to what to expect from next week's update?

[xxx] 10/6/2017 03:51

Does that indicate its attractions or the lack of alternatives [general overvaluation] ?...it is a question for us all really...

[xxx] 04/6/2017 06:59

Thanks Andrew. It is only your snippets and the reduction in nett debt that gives me hope.
I bought rather too many and at the wrong prices, as it was cheap, but ignored the lack of a catalyst for it being re-rated. That is if you dont count the pension deficit!

[maurillac] 31/5/2017 22:01

good spot andrew, yes this is a hard one to hold at times when it just drifts down for no apparent reason....
lets hope the 14th gives us a welcome boost !
m

[loganair] 15/5/2017 08:46

With Miton, means these two companies hold over 25% of Norcros.

[spooky] 14/5/2017 22:16

Hargreave Hale added.

[mrx001] 14/5/2017 22:11

Gone very quiet on here.

[edmundshaw] 25/4/2017 09:14

Certainly not.

[maurillac] 24/4/2017 17:35

ok thank you ab. not the last man standing then ;)
gla
m

[maurillac] 24/4/2017 12:21

cheers shauney2 !
m

[shauney2] 24/4/2017 11:57

Weekend FT Small Cap Focus was on Construction this week with a mention of
NXR EPWN & FORT.
All 3 are up.

[maurillac] 24/4/2017 11:37

just me left then ;) thinking of changing my handle to "thread killer" ...
m

[maurillac] 24/4/2017 09:54

marked up this am, tipped at the w/e perhaps ?
m

[maurillac] 21/4/2017 12:46

well after that bump from the trading update its all gone a bit quiet ..... i was hoping that we`d be knocking on the £2 door now. maybe not until the next news is forthcoming.
m