Norcros Share Discussion Threads

[fegger] 09/6/2022 13:40

They do have quality institutional holders at 54.29% according to Stockopedia . Can only hope they start to accumulate more and firm up the price

[mazza_boi] 09/6/2022 13:37

why is the share price not going up that much...seems very strange

[kipper7] 09/6/2022 13:00

Yes at 249/250I own plenty

[mazza_boi] 09/6/2022 11:26

did you top up then, fella? I did this morning...@253 odd.

[kipper7] 09/6/2022 10:47

Very muted response to a set of outstanding results. This company trades at very cheap levels. Imo will be heading much higher

[mazza_boi] 09/6/2022 07:53

Excellent results indeed...what do we think the accurate share price of this stock is....GBP3?

[fegger] 09/6/2022 07:45

Excellent results Interestingly achieved on much reduced cashflow. Good to see ROCE at 23.9%

[edmundshaw] 09/6/2022 07:40

I hope you are enjoying the results! :))

Dividend +22% should help against the massive cost inflation we are seeing... trailing P/E of 6.2 and 2 months subsequent trading in line with that. Norcros management confident in continued market share gains. Seems a bit cheap!

[jeff h] 06/6/2022 12:47

Results are this Thursday 9th June kipper

[kipper7] 05/6/2022 19:39

When does the company release results?

[tole] 20/5/2022 13:31

https://masterinvestor.co.uk/latest/advertising-to-pottery-to-bathrooms-featuring-three-very-interesting-small-cap-stocks-saa-pmp-and-nxr/Norcros (LON:NXR) – getting bigger in the bathroomThis is yet another 'quality' stock that just gets on and does its business. It is not loud but gently pushes ahead with its expansion strategy.Just a week ago the bathroom and kitchen products group announced its cash and debt-free acquisition for £80m of Grant Westfield, the market-leading waterproof bathroom wall panel products group.The earnings-enhancing deal was funded from the Norcros facilities together with an £18m Placing of 8.09m shares at 230p each.On the face of it bathroom panels does not sound exciting – but this group's panels are easier and faster to install, as well as being of a high quality, that is also waterproof and durable.Enough of my advertising blurb.Let us look at the Grant Westfield profile some more – it has a 12% market share of the UK bathroom wall covering market and some 40% of the bathroom shower and panel market.It gives Norcros, which operates in both the UK and in South Africa, a good boost in its own product range offering, which includes shower, enclosures and trays, tiles, taps and related fittings and accessories for bathrooms, kitchens, washrooms and other commercial environments.The group's end March 2022 finals results are due inside the next three weeks (9 June) and analyst Toby Thorrington at Edison Investment Research is positive.He goes for sales revenues to have increased from £324.2m in 2020 to £396.2m, pumping up pre-tax profits from £29.0m to £36.0m for the year, with earnings of 34.0p (29.1p) and covering a dividend of 9.0p (8.2p) per share.For the current year his estimates are for £436.7m of sales, £40.2m profits, 35.0p earnings and a 9.8p per share dividend.The group's shares, which hit 351p last October and have since been down to 211p, closed last night at 247.5p, firmer after the well-received deal and easily subscribed Placing.Yielding around 4% and trading on a mere 7.28 times historic earnings, these shares are well worth tucking away into any portfolio looking for well-funded growth.

[tole] 17/5/2022 20:01

From the IC update the other day..Broker Shore Capital is forecasting adjusted earnings per share of 36.6p, meaning that the shares trade at a trailing PE of just 6x following a 30 per cent reduction since the start of the year. We maintain our buy recommendation.

[edmundshaw] 12/5/2022 08:20

I seem to have got lucky, yes. My thanks to the institutional sellers! :))

[spangle93] 12/5/2022 07:44

Looks like you have fared well, edmundshaw.

Placing at last night's close of 230p

[edmundshaw] 11/5/2022 22:45

Looking like a good acquisition to me. A fair price and good prospects for growth-synergy-cross-sales once again. Dilution of 9% and good use of the cash and a bit of debt; should well worth it.

Some naughty price movements before the announcement though. Since I added at the lows, I suppose I have probably effectively taken a small part of the placing shares (assuming someone was dumping a few excess in advance of the announcement), so I cannot complain really... as long as the placing price is not at a significant discount to the current price. But not nice to see...

[spangle93] 14/4/2022 08:10

Hopefully NXR will do better for you basem1

Unexpectedly great guidance this morning, and a cracking opening too

[basem1] 14/4/2022 07:55

You would think so but the market may be pricing in further weakness to the economy going forward I thought the same about Lookers last week and they fell

[tole] 14/4/2022 07:12

Full year trading performance ahead of expectationsThe Group has continued to trade robustly, acting decisively to counter unprecedented cost inflation and navigate exceptional supply chain challenges. The Board now expects underlying operating profit for the year to 31 March 2022(1) to be at a record level and ahead of its previous expectations.Group revenue for the year ended 31 March 2022(1) is expected to be in the region of GBP396 million (2021: GBP324.2 million, 2020: GBP342.0 million), 22.2% above prior year on a reported basis and 20.6% above on a constant currency basis.Against a pre-pandemic FY20 comparator, this represents a 15.8% increase on FY20 on a reported basis, 18.6% above on a constant currency basis and 20.8% above on a constant currency LFL (3) basis.

[basem1] 08/4/2022 05:49

Weaker markets forecasted here Lots of consumer related stocks are in decline at present and look good value but the market is pricing a downturn in Other examples G4M LUCE LOOK VTU Stick to oil and gas at present

[tole] 15/11/2021 21:26

https://masterinvestor.co.uk/equities/monday-morning-round-up/Norcros – another inexpensive products supplierLast Thursday's announcement by this bathroom and kitchen products group covered its interim results to end September.They were very impressive and identify the group's shares as being cheap.On a 48% rise in group sales to £200.9m it reported an underlying pre-tax profit of £20.9m, an increase of 95%. Even earnings advanced significantly, almost 89% better at 20p per share.Apparently, the boost came from increased activity in both the UK and the South African 'repair, maintenance and improvement' markets.This group's brands are well including Johnson Tiles, Croydex adhesives, Triton showers, Vado taps and mixers, and Merlyn shower enclosures and trays.Like industry generally it has suffered cost, energy and supply chain challenges."Notwithstanding these factors and based on the excellent first half performance and the group's revenue momentum, the Board remains confident our proven business model and leading customer proposition will lead to further progress, in line with its expectations, for the year to 31 March 2022."Estimates are for the year to end March 2022 that the group will increase sales to £380m (£324m), with profits rising from £29m to well over £34m. That should see earnings coming in at over 33p (29p) and more than treble covering a 9p dividend (8.2p) per share.They peaked at 351p a month ago, so with its shares now trading at only 315p, I would suggest that there is at least another 85p to go for in the price.

[xxx] 12/11/2021 10:23

The interims showed the company has increased inventory at the expense of cash. They have earned my trust, based on the way they warned early and then navigated the covid slowdown and subsequent boomlet.
Yes, surprised by the share price reaction, but am not in this for the s/t.