Norcros Share Discussion Threads

[xxx] 16/12/2019 11:46

any thoughts on what is going on here ?

[deanowls] 16/12/2019 09:55

Contracts with house builders and the expected jump in building and not giving ten per cent of business to staff is what’s behind it.

[ali47fish] 16/12/2019 09:08

this one is in the retail sector so maybe that' s why it is perking up

[grahamburn] 26/11/2019 12:26

Apologies Sleepy, but I did feel that people had just seen the headline figures in the RNS without picking up the detail.

Probably - no definitely - a bit harsh.

I'll keep quiet in future, for fear of waking you up!

[sleepy] 26/11/2019 10:31

Have been Sleepy for over 20 years. Still sleepy but perhaps one day I will perk up!

[spangle93] 26/11/2019 07:50

Maybe if you called yourself "perky" rather than "sleepy" he wouldn't have jumped to a false conclusion? ;-)

[sleepy] 25/11/2019 21:33

grahamburn - thank you for your detailed explanation. I don’t think you are correct to say I haven’t been paying attention - why else would I have posted Miton’s shareholding?

[grahamburn] 25/11/2019 16:51

The last 3 posts are not paying attention.....

Keeping up with holdings announcements is good, but they should be read thoroughly!

Note this section which shows there have not been any changes in actual holdings, just a merging of two separate holdings:

Other (please specify)(iii) : by means of a court-sanctioned scheme X
of arrangement, a merger of Miton Group plc and Premier Asset Management
Group plc completed on 15th November, 2019. As a consequence, the
regulated subsidiaries of those two firms are now wholly-owned subsidiaries
of Premier Miton Group plc; namely Premier Fund Managers Limited
(FRN 143097), Miton Asset Management Limited (FRN 115241) and Miton
Trust Managers Limited (FRN 220241

[edmundshaw] 25/11/2019 15:34

That explains recent share price strength.

[sleepy] 25/11/2019 15:29

I thought Miton declared a holding of around 8 million shares in September?

[ali47fish] 25/11/2019 14:48

PREMIER MITON GROUP PLC invests over 9pc with no previous holdings

[rmillaree] 14/11/2019 13:41

Perhaps that's a result of the high value of the stockmarket at present - perhaps we shouldn't expect that situation to last :) - presumably they haven't over invested with woodford thankfully.

Could they ever get to a point where they could pay a provider to take the scheme off their hands?

they say "The Company and the Trustee continue to work together and consider further de-risking measures." - perhaps that's simply paying enough cash in to keep the powers that be happy.

[charlie] 14/11/2019 10:47

Surprisingly good progress on the pension fund. I have always thought it will be OK in the end, but I was expecting the snapshot deficit number to be substantially worse this time. Out-turn is 29.0m deficit (from 31.6m 6m ago) despite discount rate 1.9% (2.5%), due to good investment performance.

[dime] 14/11/2019 10:08

Peel Hunt today reaffirms its buy investment rating on Norcros PLC (LON:NXR) and raised its price target to 270p (from 260p).



Broker Forecasts data provided by www.sharesmagazine.co.uk

[edmonda] 14/11/2019 08:55

Totally agree - the macro climate hardly gives a base for shooting the lights out, but the management have shown admirable patience in keeping their own house tight, whilst still investing in product development and keeping an eye open for quality assets that enhance their portfolio ...at the right price.

Classy company.

[edmundshaw] 14/11/2019 08:03

Slightly better than I expected given the last trading update. Very happy with this!

[this_is_me] 14/11/2019 07:58

The best time to make acquisitions for cash is when times are tough and valuations are low. That is, after all, what we do as investors.

[rmillaree] 14/11/2019 07:26

Everything seems a ok here. Pension deficit down again now under £30 mill and capitalised expenditure nicely under control. This company needs to nothing other than tick over and meet expectations for the balance sheet to materially strengthen and de risk the business. I guess we should continue to expect more acquisitions when the time is right let’s hope anything in that direction is not over ambitious.

[this_is_me] 14/11/2019 07:09

Great set of results in tough market conditions.

[fredfishcake] 13/11/2019 13:08

Half year results due tomorrow....

[edmundshaw] 22/10/2019 18:49

M&G split from Prudential PLC and listed on Monday.

A day later they announce that on Monday they crossed the reporting threshhold and now own 6.68% of NXR. The Pru has 5% or so.

Presumably that is the split from the split... so to speak.

[norcros] 17/10/2019 17:17

Pro forma debt was £35m + £9.7m initial consideration for HoP = £44.7m. They also paid a £4.5m dividend, bringing FCF incl. working capital changes in the H1 period to £7.2m. And this number may even contain some deferred consideration from previous acquisitions. So very decent imo.

[rmillaree] 17/10/2019 12:39

Note one minor point ref debt reduction is that debt at 31/3/2019 was only £35 mill - they then splashed out £12.1 mill 1/4/2019 on acquisitions. So in some respects over half the debt reduction in the quoted comparative number is that which has previously been flagged up being in the 6 month and 1 day period to 1/4/2019. So my initial joy seeing the quoted reduction was tempered when i realised debt was actually up £7 mill in the period!

[edmundshaw] 17/10/2019 08:49

Pleasing update.

[thorpematt] 17/10/2019 08:22

Yes that's a strong updatee considering the wider environment. Very solid.