Share Name Share Symbol Market Type Share ISIN Share Description
Norcros LSE:NXR London Ordinary Share GB00BYYJL418 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  -8.00p -4.08% 188.00p 19,888 08:55:08
Bid Price Offer Price High Price Low Price Open Price
188.00p 190.50p 192.00p 188.00p 192.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 271.2 11.5 13.9 13.5 150.30

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Date Time Title Posts
16/3/201808:47Time to take a shower in Norcros shares.3,054
21/6/201618:19Norcros plc NXR144
27/2/200822:05Do they make RAIN showerheads ? !20

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Norcros Daily Update: Norcros is listed in the Construction & Materials sector of the London Stock Exchange with ticker NXR. The last closing price for Norcros was 196p.
Norcros has a 4 week average price of 190p and a 12 week average price of 170p.
The 1 year high share price is 202p while the 1 year low share price is currently 147p.
There are currently 79,948,469 shares in issue and the average daily traded volume is 109,588 shares. The market capitalisation of Norcros is £151,902,091.10.
loganair: They say that if the mortgage rate rises by just 1% then then 20% of people will not even be able to afford the Interest on their mortgages. The economy is strengthening because of the 'lose money, usually around 9 months after the Central Banks start to tighten then the economy weakens. I agree with your second sentence, that I think there is one more push to the up side in NXR share price before it all falls apart and the wheels come of the stock market.
loganair: sg31 - Agreed, however during a recession people do not replace shower units because they've become shabby. The good builders always seem to have work however the country is going, however during recession times I know many builders who have little to no work. I first invested in the original Norcros some 30 years ago. This time round I have doubled my money, plus the dividends. I am still invested as I think there is still one more push higher for Norcros's share price. I do not understand why so often, so many posters on so many boards ask why I am investing when I am so negative. Often when I am at my most negative is the best time for me to invest. At the moment, interest rates are starting to rise, which will mean mortgage rates rising and Central Banks are tightening their monetary policies which is usually a prelude to a recession.
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.
andrewbyles: February is usually a bad month for Norcros’ share price, but it looks as though Jacob Zuma is about to resign as South African president - which should boost both the economy and the rand (16.67 to the £ right now). Additionally, 30 year UK bonds are close to yielding 2%, which should help the pension fund. Niether of the above will necessarily have a short term impact on the share price, but they should boost the company’s fundamentals - more profits, less pension fund deficit.
edinburgh clarinet: Would any of you well informed investors care to comment on the role of the Norcros Pension Fund deficit in determining the share price. I have had my shareholding for several years, throughout this time Numis have said the shares are very cheap, and currently have a target price of 300p. Their target price has always been way above the share price! My back of envelope calculation is that if you factor in the PF deficit the p/e or EBITDA valuations are much closer to the sector average. Also, my understanding is that the annual Exceptional payment into the PF ( ? £2.5 million) by Norcros is not deducted from profits before calculating the EPS. If you did deduct it, you would arrive at a much lower EPS and higher PE ratio. Bit odd that Numis as the company's broker dont mention this significant accounting issue in their enthusiastic evaluation of the shares! I am happy to hold the share on basis of 4% yield, still well covered even after deducting the exceptional payment into the PF, and steadily rising dividend over several years. And who knows, rising bond yields may bring down PF defict in next few years. Any views?
andrewbyles: At the time of the 2014 interim results the dividend was 1.85p per share. Today it was increased to 2.6p per share. That's a 40.5% increase over the three years. Although there have a been a few upward spikes, the share price has remained flat. It must only be a matter of time before the share price moves up.
norcros: Don't you think management deserves some credit after their succesful M&A activity in recent years? Because I do. I've been accumulating shares in NXR since August and will subscribe to the open offer. Norcros is dirt cheap and sooner or later, the share price will rise considerably. I'm looking at a fair value of at least £3.3, with further upside following additional acquisitions and organic free cash flow growth. Yes, the price is a little steep. The fast growth (CAGR of 20% between 2015 and 2017) and much higher margins of Merlyn obviously played a role in this. Importantly, only half of the acquisition price will be paid with new shares. The other half will be financed with cheap debt . Merlyn generated a free cash flow of £4.5m in FY2017, and that free cash flow is rising fast, much faster even than revenue growth. At the end of FY 2018, the combined company could have an enterprise value of £185m (£140m market cap and £45m in net debt). With conservative free cash flow in FY18 at £22m (17+5; we'll know more on 16 November), the company would trade at a cash return of 12%. Just sit tight is my advice.
imranawan: Loginair, I agree with your points about the NXR share price being disappointing. I've only held it for around 9 months, and its done very little in that time. I bought into Topps and sold out shortly after they issued their interims, and am kicking myself as they have risen strongly since then. I also agree that NXR appears to be undervalued, but I can't see any share price rise in the short-term. I think the catalyst in share price would be if they made an acquisition to achieve their aim of increasing revenues to £400m.
loganair: For me the NXR share price is not really that important as long as I'm not making a loss. What is important to me and matters is the dividend, as long as it rises by 5% or more then I'm very happy - and the company has reduced it's debt from the previous report.
Norcros share price data is direct from the London Stock Exchange
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