Norcros Share Discussion Threads

[leeson31] 16/6/2014 09:37

10 April 2014

Norcros

("Norcros", the "Group" or the "Company")

Trading Update

Norcros, the market leading supplier of innovative branded showers, taps, bathroom accessories, tiles and adhesives will announce its preliminary results for the year ended 31 March 2014 on 19 June 2014. In advance of entering the close period, the Group is providing the following trading update.

Trading

The financial year ended in line with market expectations.

Group revenue for the year is expected to be in the region of GBP229m (2013: GBP210.7m) which represents year on year growth of 16.4% on a constant currency basis and 8.7% on a reported basis. Group underlying operating profit(1) is expected to be 25% higher than prior year at approximately GBP16.3m (2013: GBP13.0m) despite a 20% weaker South African Rand costing GBP0.4m on translation of South African profits. Group underlying profit before taxation(2) is expected to be 26% higher at approximately GBP14.7m (2013: GBP11.7m).


expecting therefore good results; its just a case of whether the market thinks the industry will ease off given the housing boom issues at mo..

[leeson31] 04/6/2014 08:47

going up.

:p

[mrmomentumt] 04/6/2014 08:47

Thanks SJC! For us non chartists, could you please summarise what all that means? Thanks in advance!

[sjc] 03/6/2014 14:28

All looking pukka,volume is volume.

[redrumtum] 03/6/2014 14:11

Some very large trades today. L1 shows all sells but (given the price has gone up) more likely it was a straight swap of 5m shares. Crystal Amber Fund have a luke-warm write-up on their portal so assume they are still banking profits. Any other views welcome.

[leeson31] 30/5/2014 15:03

thats fine.... you just need to post anything u find out.. :-) nred growth info... :-)

[death by donut] 30/5/2014 14:21

What classifies as inside info? Being a tiler myself I know an NXR rep quite well . A friendly chat about how its going but no specific numbers ok i wonder?DbD

[nigelmoat] 30/5/2014 11:03

Don't understand the lack of interest in this Company. With buoyant housing and DIY sectors would expect much higher valuation. Only negative I can see is low value of South African currency but that's minor in relation to big picture. I topping up prior to results mid June as think this share could come on radar of others before long.

[mrmomentumt] 30/5/2014 10:13

Nice announcement today and L2 shows good support and some chunky buys going through. All positive stuff for what is a very good well managed company at an excellent price too that also pays a dividend!

[leeson31] 30/5/2014 07:23

("Norcros", the "Group" or the "Company")

Completion of disposal of Australian Subsidiary

Further to its announcement of 25 March 2014 regarding the conditional agreement to sell 100% of the issued share capital of Norcros Industry (Pty) Ltd. which owns the Group's Australian tiles business, Johnson Tiles (Pty) Ltd. to Kim Hin Industries Berhad, Norcros is pleased to announce that all conditions associated with the sale have been met and that the sale has been completed.

[rogerlin] 29/5/2014 08:58

I see the interim report gives borrowings of 34.4 million and a pension scheme liability of 26.6 million as of end Sept 13.

[graybr] 28/5/2014 12:34

Quite a lot of my trades don't show up as settled on ICAP exchange, not sure where you can see these trades. Any ideas?

[scrabble1975] 28/5/2014 12:13

In for a trade here today. Strong support on yearly chart at these levels. Tight guaranteed stop placed with spread bet just in case.

[nigelmoat] 28/5/2014 12:00

Also bought in here this morning (trade not shown up!) as see better times ahead for share price. With the current buoyant housing and DIY sectors this has to benefit. Also not long to know as year end figures to be announced on 19th June.

[graybr] 28/5/2014 10:38

Topping up at these levels

[mrmomentumt] 22/5/2014 11:01

Still a lot selling. Not sure why, Topps reported well and PBT confirmed in their last update.

[graybr] 21/5/2014 10:15

Great results from TPT, however market hasn't responded as expected. Still gotta be good news for NXR.

Questor share tip: Topps Tiles profits jump on DIY fever'

Small company shares have been hit hard since early March, and Topps Tiles hasn't escaped the sell-off, giving back some of its gains. However, trading remains on target, so Questor retains the recommendation, Buy.

[death by donut] 16/5/2014 16:43

Added a few on the dip .

DbD

[darnoc64] 16/5/2014 16:12

Had my buy limit order executed today at 19.3. I'm a bit worried as I didn't expect it to be hit so soon, just praying it doesn't race through to fill that gap back in September.

[leeson31] 16/5/2014 15:20

yeah, add the debt = enterprise value... cheers

[123ct] 16/5/2014 15:19

leeson31, having a look at going back into this share, I hop in and out, you are not including the £27M debt in your figures, I now think at 19p this is starting too look attractive, lets see what Topps Tiles have to say on Tuesday 20th

[mintitan] 09/5/2014 14:25

Appears to be some big sells on the order book today.

[leeson31] 16/4/2014 06:12

aye very good TU.

Group revenue for the year is expected to be in the region of GBP229m (2013: GBP210.7m) which represents year on year growth of 16.4% on a constant currency basis and 8.7% on a reported basis. Group underlying operating profit(1) is expected to be 25% higher than prior year at approximately GBP16.3m (2013: GBP13.0m) despite a 20% weaker South African Rand costing GBP0.4m on translation of South African profits. Group underlying profit before taxation(2) is expected to be 26% higher at approximately GBP14.7m (2013: GBP11.7m).


so, MCAP at £123m, and annual turnover up, at £229m, and also pbt up, at £14.7m

mcap £123m / pbt £14.7m = price earnings ratio at 8.4

at ~21p/share IMO this is quite cheap.

if the share price were 30p/(mcap ~£176m) that would put the p/e still only at ~12