Norcros Share Discussion Threads

[mctmct] 24/12/2014 10:22

£1.1m of fixed assets that generate negligible income is worth a lot less to a business than an injection of £6.5m cash. I see the disposal as distinctly +ve.

mct

[lomcovaks] 24/12/2014 10:08

I concur with your views about the loss against the marked valuations but I'm surmising that the mark down is in relation to the disposal of the whole range of surplus legacy properties in one transaction.

Sales of each of the individual properties separately could easily have cost the same or more in time and transaction fees so I see this as a positive going forward and will hopefully create more time for the management to concentrate on growing the business instead of selling redundant property.

[shanklin] 24/12/2014 09:18

Hope the rest of the assets on their B/S are at realistic valuations??

[eeza] 24/12/2014 09:09

Given the strength of the Property market, selling for a loss of £1.1m, below book value, is a tad disappointing, imo.

[hatter2] 24/12/2014 08:57

Overall a good RNS today from Norcros covering disposal of surplus property; I don’t expect much if any market reaction but in my view, very positive in the long run.

[mesquida] 09/12/2014 14:33

Cheap on fundementals, chart looks good, and persistent seller over last few months ( Crystal Amber ? ) must surely be about finished. All adds up to 24p in the short term surely.

[nigelmoat] 09/12/2014 13:05

Some big buys here last couple of days.

[eeza] 08/12/2014 18:11

Lololol !!!

I'll do it again if it helps to get back into 20's.

[hatter2] 08/12/2014 16:28

Yep, top post eeza

[waspfactory] 08/12/2014 15:53

Great call eeza

[eeza] 04/12/2014 17:58

Perfect H & S formed for return to 15.5p.

[fizzypop] 04/12/2014 10:00

Ex-divi today, payment 7 Jan.

[waspfactory] 30/11/2014 07:38

I've never forgiven them for a sell recommendation on ARM at 80p 4 years ago!

[hatter2] 28/11/2014 08:47

Shares Magazine also did an fairly decent sized article on Finsbury Foods a couple of weeks back. Same effect as NXR, zero movement; it may say more about the lack of respect for Shares Magazine than the business itself.

I did take the mag for a few months but not impressed to ne honest.

[cestnous] 28/11/2014 08:07

Well that 2 page article and buy rec in "Shares" yesterday hasn't done a lot for the share price

[hatter2] 21/11/2014 02:40

AB, thanks for the IC information.
It's nice to see NXR moving now in a positive direction with the share price I personally feel that the company have done a lot in the last 9 months or so to improve the business, the balance sheet and the style of their announcements. Personally I feel we have a lot further to travel up with the share price but don't expect fireworks; rather steady as she goes for the next 12-18 months.
Happy holder!

[pj 1] 20/11/2014 20:47

Stoke? Jeez..

The only 'City' without a city centre?

Full of crumbling terraces and 30MPH A roads full of speed cameras.

Even Scotland sounds more appealing!!

[sleepy] 20/11/2014 17:06

Nor do they even breakout profitability between the tiles and the showers part of the group - the latter believed to make much higher operating margins

[kazoom] 20/11/2014 11:31

Yes thanks Paul, a good summary as ever.

These look good value to me so I have a few.

BUT, by biggest concern here is : why is this a group?

We have a selection of "bathroom related businesses" bolted together into the Norcros group - but it's not at all apparent to me what are the benefits of doing this : Are there any supply chain efficiencies? Cross selling opportunities?

It's not clear that there are and I worry that the only reason for bolting these businesses together might be to justify the salaries of the board. I think this is a particularly pertinent question given their stated aim of achieving revenues of £420 by 2018 to include acquisitions. Are they really creating value, or just an empire?

I think Paul, you have had some discussion with the company at some point - so I'd be interested if you have any views on that?

[maurillac] 20/11/2014 11:23

a breakout is fine by me ;)
m

[cockneyrebel] 20/11/2014 10:52

No bowl Sleepy - but a break out:


free stock charts from uk.advfn.com

[fizzypop] 20/11/2014 09:24

Thanks Paul. And I thought the patient was DNR but I hung on in the expectation of life support. Just one year in a coma on a divi drip!

[hugh garss] 20/11/2014 08:40

Thanks Paul, a fair assessment as always.

[paulypilot] 19/11/2014 21:55

Maybe an overhang has finally cleared? This is a strange situation, as there was no fundamental reason at all for NXR shares dropping from 25p to 15p. It was purely on sentiment. The recent Interims were very good, and 1.9p EPS f/c for this year confirmed. There is an H2 bias too, so 2.0p is possible.

S.African operations doing fine, and sterling profits actually rose, so worries about the Rand were misplaced.

Pension deficit doubled from £20m to £40m, but recovery plan is £2m p.a. for 15 years, so manageable.

Divi yield is attractive, at nearly 4%, and rising.

Freehold property buried in the Bal Sheet supports things nicely.

Just an unfashionable share that is overlooked & undervalued in my view. The patient will be rewarded here in due course I reckon.

Regards, Paul.