Ripley94
20 Feb 2020
Big Drop Today NXR XXXX Norcros, down 20%. The UK and South African kitchen and bathroom products firm said it expects underlying profitability for its financial year to March 31 to be below market expectations, as the coronavirus affects its China-based suppliers. Norcros said the coronavirus has had little short-term impact to date, as UK based stock levels have been sufficient to satisfy demand. But slower production at its China-based suppliers is “likely to have some impact on the seasonally important remainder of this financial year and early next yearâ€. “The situation however remains fluid and is being closely monitored and actively managed,†the company noted. Norcros said it has continued to win market share in its major markets despite conditions remaining challenging since mid-November. The company now expects that underlying profitability for the financial year to March 31 will be below market expectations, albeit ahead of last year. In financial 2019, Norcros reported revenue of GBP331.0 million. Revenue from the UK was GBP228.1 million, while South Africa revenue was GBP102.9.
Hardboy
23 May 2018
200 Peel the bells & cheer from the roof tops - we've closed on £2 - we've not seen these levels for over 4 years; in which time, at which time it appeared cheap, and since when the business has steadily increased sales, profits and dividends. I'm not getting carried away, but : About time!
The Darkyhorse
16 Jan 2018
Re: Open Offer Well done Hardboy!
Hardboy
16 Jan 2018
Re: Open Offer I duly sold the same number of shares I bought in the open offer, leaving my holding at the level I am happy with it. Although the open offer was not overly generous. I bought at 172 with no dealing costs, sold at just over 183, 47 days later, which with the dividend gave me a return of 7.75% in a month and a half, which is equivalent to over 78% p.a.I'm more than happy with that sort of return!
Hardboy
23 Nov 2017
Re: Open Offer Well they got all the funds they wanted out of the offer, but it was hardly over subscribed. As you say that's probably due to how close it was to the current price. Still it means the takeover goes through, and let us hope it is a good investment which adds to the bottom line straight away. I got all the shares I applied for, which was probably more than I wanted, but I'll take the dividend, then look at reducing my holding slightly. (So watch the sp fall)
The Darkyhorse
16 Nov 2017
Re: Interims Hope they rocket but as things stand....Still feel they never gave the P I holder anything special.Even now based on bid only 3p in it! Dividend available also to any open market purchase.Good luck to takers as I hope my underlying holding flies!Not enticing enough for me though. Discipline required.
The Dutchman
16 Nov 2017
Re: Interims Unfortunately these results were announced 7 hours after the Interactive Investor deadline for responding to the Open Offer. I for one decided that the share price differential at close of play yesterday didn't warrant taking up my full allocation.Interestingly a holding I have elsewhere has set a deadline of close of business today so I can fully participate there!
Hardboy
16 Nov 2017
Interims Another good set of results showing steady progress. Sales are up, profits are up, cash flow is strong, debts are down, the dreaded Pension Deficit is reduced, net assets are up, dividend is up 8%. Interestingly the open offer shares will be eligible for the dividend; and at 172, the prospective yield (which has a cover of more than 2) is 4.53%.I don't think the business is particularly seasonal, so if H2 replicates H1, the PE (at 172) would be 6.1. I believe the LSE average is around 15; and companies with a successful record of growing profits, and a good outlook should be above the average. Maybe the Pension Deficit is still the drag on the share price, but the small rise in interest rates will help that.
Hardboy
16 Nov 2017
Re: Open Offer TDH, "Could of bought @ 150p 2 weeks ago and for a while prior to that" - I don't think you could. Something weird has happened with the ii chart. They may be trying to do some clever adjustment which I don't understand, but since the pre close trading statement on 12th October, the lowest closing price before the open offer announcement was 177.12, and the last time it closed below 170 was 18th September, and you have to go back to June for the last time it closed below 165.
The Darkyhorse
14 Nov 2017
Re: Open Offer I have decided I personally will not bother taking open offer entitlement up. Not much of a discount to rewqard and for protection at all for existing shareholders.Not showing strength much above 172p since announcementCould of bought @ 150p 2 weeks ago and for a while prior to that.I will just run and hope with what I have had for a good while now ( they haven't been brilliant)Most prob they will take off now I have decided against taking. I really hope they do to enable me to finally make a profit.Is it worth commiting more to chase this one? For me no! Decided to not convince myself. As ever discipline reqd in this game.Sincerer good luck to anyone who feels it is in their own case.I will gain anyway if they take off with existing holdings. But for the not enticing open offer....I'm out!
Hardboy
13 Nov 2017
Re: Open Offer I'm not sure exactly how these open offers work as regards visibility of take up; but I would have thought if there was a danger of it not being taken up in full the share price would drift below the open offer price; and in weak markets, the share price is standing up pretty well; so I'm guessing the open offer is being well taken up.
seadoc
07 Nov 2017
Re: Open Offer I cannot buy at 172 today. Would I? Yes. Taking it up plus a few more to round out the holding.Regards,Seadoc
The Darkyhorse
06 Nov 2017
Re: Open Offer exactly...so i will wait and see until the 11th hour!
Hardboy
06 Nov 2017
Re: Open Offer Of course another day with a drop like this and it won't be worth taking up the open offer - it'll be cheaper on the open market. Interesting days.
The Darkyhorse
06 Nov 2017
Re: Open Offer Yes your line of thinking makes sense in respect of funds etc. Probably pretty attractive to them. Fair bit of voicing that Sp undervalues the company has been expressed over the last yr ( including by yourself !). But iit hasn't lifted off at all? Certainly isn't designed for the P/Investor to entice them ( 10 for every 51 held?) if want them. But maybe all in all this will underpin the Sp somewhat and provide the catalyst? Heres to hoping!Regard
