Share Name Share Symbol Market Type Share ISIN Share Description
Norcros Plc LSE:NXR London Ordinary Share GB00BYYJL418 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  2.00 0.68% 298.00 36,083 16:35:27
Bid Price Offer Price High Price Low Price Open Price
293.00 304.00 297.00 294.00 296.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 324.20 18.50 18.60 16.0 241
Last Trade Time Trade Type Trade Size Trade Price Currency
16:38:25 O 5,927 298.00 GBX

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Date Time Title Posts
21/7/202113:46Time to take a shower in Norcros shares.3,371
21/6/201619:19Norcros plc NXR144
27/2/200822:05Do they make RAIN showerheads ? !20

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Norcros Daily Update: Norcros Plc is listed in the Construction & Materials sector of the London Stock Exchange with ticker NXR. The last closing price for Norcros was 296p.
Norcros Plc has a 4 week average price of 287p and a 12 week average price of 280p.
The 1 year high share price is 344p while the 1 year low share price is currently 140p.
There are currently 80,971,927 shares in issue and the average daily traded volume is 33,053 shares. The market capitalisation of Norcros Plc is £241,296,342.46.
thorpematt: xxx 1. Pension defecit 2. South Arfica Like yourself I ask this question when I see what I perceives to be a mis-price. If I think the market has over-reacted to the negative side and can convince myself this is so I will buy the stock. "Sometimes the market can stay irrational longer than you can stay solvent " is one quote I have in the back of my mind when I do so. But I don't buy on leverage and this certainly is not going bust. The PD is not the issue it once was. As you elluded to, the management have navigated this in a very canny way (the acquisiotioned growth has drawrfed the PD by proportion of ration to earnings). Many market analysts are still living in the past with this stock. The S.A thing is also nothing like as significant as some seem to think. Obviously any political situation is difficult to quantilfy but in terms of how it effects this business it's not in my view enough to warrant a major discount.
xxx: I have owned this share for a few years now and bearing in mind the progress in managing the shape of the business, accretive acquisitions and the really successful way they managed the last year, warning early, turning to cash and then turning trading back on, I am surprised at the lack of interest in the shares. Why do people reckon this is so ?
tole: https://www.fool.co.uk/investing/2021/06/24/best-shares-to-buy-now-the-top-growth-share-id-buy-with-2k/Norcros (LSE:NXR) just jumped right to the top of my picks for the best shares to buy now. The £245m market cap business supplies high-end bathroom and kitchen branded products. Most wouldn't look out of place in a posh Kirsty and Phil makeover, like Abode sinks and taps, and Johnson ceramic tiles. UK homeowners splashed out £39bn in the last 12 months on property improvements, according to recent surveys. It's understandable, with more people working from home and seeing upgrades they'd like to make. And I really like the figures I see in the Norcros back-end. Net profit is expected to jump 72% from £15m to £25.8m in 2021. And yet the shares are trading on a forward P/E of less than 10. So there's value plus growth potential here. Bosses have continually improved the company's profitability over the past few years. Return on capital nearly doubled from 6.8% in 2020 to 12% in 2021. This shows me it's a well-managed business. Some of the country's richest investors seem to agree these are the best shares to buy now. Premier Asset Management, the company's largest institutional shareholder, upped its stake by 773,000 shares on 16 June. It now holds more than 11% of the business.OutlookThere are a few dampeners to consider. It's not all sunshine and roses, and as an investor, I need to keep a calm head and not get overexcited. Group revenue for the year to 31 March 2021 dipped around 5%, to £342m. And Norcros's South African arm pulled in a slightly lower percentage of the group's revenue this year than than the year before. "Group revenue outside the UK has decreased in the year to 41.6%, reflecting the impact of Sterling strengthening relative to the Rand," Norcros said. South African currency markets have experienced significant volatility over the past 12 months. And as local business reporters note, that made it bad news for anyone moving funds out of the country. But looking further ahead, I can see Norcros expects its revenues to keep growing, along with those tasty net profits. And earnings per share (EPS) are forecast to jump from 22.4p to 31.5p next year. That 30% EPS hike comes at good value. Price-to-earnings growth stands at less than 0.5. Anything under 1 is generally considered excellent value.
deanowls: It is Dave. On a lower multiple though. I wonder what those assets are and whether they are tangible? NXR also has overseas diversification and varied revenue and work streams. But that’s the game and it’s great they are listing as it has a comparative read across and hopefully helps the valuation here
jeff h: Norcros: ‘attractive’ name in a recovering market Bathroom and kitchen products supplier Norcros (NXR) is an ‘attractive’ way to play the repair, maintenance and improvement (RMI) market, says Peel Hunt. Analyst Sam Cullen reiterated his ‘buy’ recommendation and target price of 310p on the stock, which closed up 4.2%, or 12p, at 300p on Thursday. Cullen said the group continues to benefit from a recovery in the RMI market in both the UK and South Africa, prompting it to raise full year guidance just two weeks after its last upgrade. ‘Operating profit is now expected to be at least £33m, a 6% upgrade on prior guidance, with net cash of £10m,’ he said. ‘The shares remain cheap at circa 9x current year 2022 earnings and we believe the company remains an attractive small-cap way to play the recovering RMI market, while the potential for further M&A should not be discounted.’ Https://citywire.co.uk/funds-insider/news/expert-view-unilever-travis-perkins-naked-wines-loungers-and-norcros/a1495460?ref=citywire-money-latest-news-list#i=6
thorpematt: FWIW I felt the share price should have risen more following the last update. I haven't raised my Fair valuation here on today's because I prefer to remain cautious that there are still fluctuations in earnings. And therefore I remain at £4.56 as my target and base underlying earnings at a cautious £28m mid term. There is HISTORICALLY a low(ish) PE ratio applied here. Somewhere around 10x has been the average. The reason this has IMO been the pension defecit (which at times has been many multiple of the annual net profit). In reality we are now in a very different place to where we were 5 years ago. As a proportion of company operating profits the PD is now very manageable. With underlying profit in one year being capable of wiping out around 60% of it in one hit. The debt reduction this year is proof of the principle that this share does not have a pension defecit problem ANYMORE. It is deceased - like the norwegian blue in the Monty python sketch. It's not pinin'! It's passed on! This parrot is no more! It has ceased to be! It's expired and gone to see its maker! This is a late parrot. It's a stiff! Bereft of life...etc. etc. So, where does that leave us? A. We can value this stock on its merit. Is it a good company with a strong balance sheet? Good product brands, barriers to entry, etc. etc. If it is just an average one, it should warrant the average PER of the UK listed companies (which is currently 16.5 - and that includes all those companies with huge debt on thier balance sheet....as well as those minority with actual net cash). So, still too cheap.
jeff h: Norcros potential not in share price, says SVM’s Veitch SVM Asset Management’s Neil Veitch says bathroom and kitchen products supplier Norcros (NXR) has strong growth prospects which are not reflected in the share price. The Citywire A-rated manager of the £164m SVM UK Opportunities fund said Norcros’s revenue dropped over 40% during lockdown but ‘the strength of the recovery since then has been impressive’ and it has gained market share at the expense of competitors. ‘We expect these market share gains to prove sticky,’ said Veitch, who added that minimal net debt means the company can also grow through M&A. ‘Trading on an estimated March 2022 price/earnings [ratio] of less than 10x, we believe that Norcros’s impressive operating performance and growth prospects are not reflected in its current share price.’ Https://citywire.co.uk/funds-insider/news/expert-view-ocado-fever-tree-888-holdings-norcros-and-onesavings-bank/a1483086?ref=citywire-money-latest-news-list#i=6
thorpematt: I have been in and out here quite a bit in recent times. NXR has always had strong brands and great ability to spin cash. The PD weighs on the share price but I think that it's now wellunder control considering the underlying profits now being produced. Where the BoD has done well is that it has expanded the company's top and bottom lines - partially through acqusitions and partly from organic, to a point where the PD is now proportionatly MUCH smaller than it once was. We're now in the territory of have no debt but underlying profits of close to £30m PDs are hard to pin down but even if we add £50m onto the M.CAP here we have a very cheap metric. FWIW my fair valuation here is £4.56 (includes a £50m PD deduction).
loganair: AB - Apart form Johnson tiles which we both agree, why do you think NXR share price has been held back? I totally agree when it comes to their South African business. When the recession comes in my opinion the house builders and companies such as Norcros will be hit very hard. I am getting very close to selling my holding in Norcros, waiting for the down turn, then to come back in at half the price thereby being able to pick up double the number of shares I held before.
loganair: I have often seen other poster write 'why isn't NXR shares higher then they are?' It seems to me because Norcros are not growing organically, they are growing by taking on more and more debt for acquisitions. When the down turn does come, I would not be surprised for the NXR share price to quickly half in value.
Norcros share price data is direct from the London Stock Exchange
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