Hardboy
23 Sep 2015
Consolidation Unless there are an awful lot of very small shareholdings which are flushed out by the exercise, I don't really see the point in share consolidations. It's a pretty expensive exercise just to move a decimal point one place.
gretel
08 Sep 2015
Tipped in Shares Mag NXR are tipped in this week's Shares Mag as part of a long feature on top brands: "Norcros (NXR) 20.7p It may be the name of Neptune’s largest moon but Triton is almost certainly better known to UK consumers as one the country’s most recognisable marques of electric shower. What they may not realise is that it is a brand owned by listed bathroom fit-out specialist Norcros (NXR). The company would appear to be an obvious beneficiary of the UK’s still nascent economic recovery. Meanwhile, an objective to greatly increase the proportion of revenues generated from outside the country should also help prompt a rerating as the market rewards a more geographically balanced business model. Norcros supplies high quality showers, taps, bathroom accessories, ceramic wall and floor tiles as well as adhesive products. The group’s operations are primarily located in the UK and south Africa. In the UK, Norcros owns Triton, the market-leading shower brand, Johnson Tiles and Norcros Adhesives as well as Vado - a major manufacturer of bathroom controls including taps, mixer showers, bathroom accessories and valves. These are exported to over 60 countries, most notably the Middle east and Africa – a judicious and accretive addition from March 2013. In south Africa, norcros operates under three brands; ceramics retailer Tile Africa; Johnson Tiles South Africa, a manufacturer of ceramic and porcelain tiles; and TAl which manufactures ceramic and building adhesives. The bathroom fit-out specialist is up 14.5% year-to-date and while revenue growth has been muted in the first quarter, we keep faith with a proven management team implementing a sound growth strategy. despite a positive backdrop for construction, The group saw only 0.7% revenue growth in the UK in the year to march 2015. The South African business, by contrast, saw 15.1% constant currency revenue growth but gains have been severely impacted by a weak rand. The more recent first quarter update (22 Jul) trimmed turnover growth in that region back from 12% (constant currency) to 7.9% in sterling terms. The upshot is that first quarter revenues are up 3% (or 4.3% if you discount currency movements) and again, as per final results on 18 June, Norcros flagged a challenging UK retail environment. On the upside, the UK trade segment was a little more encouraging with revenue growing 0.6% in the period as the group benefited from increased activity in the trade segment due to an improving housebuilding and commercial space. The 25 June announcement of the group’s £21.9 million acquisition of Croydex – a designer, manufacturer and distributor of high quality bathroom furnishings and accessories with exposure to both the UK trade and retail segments – is exactly the kind of deal norcros should be doing in order to drive UK growth. ‘The acquisition of Croydex is a compelling fit with our strategic growth criteria, broadening the group’s product offer as well as providing a number of opportunities to drive revenue and procurement synergies,’ said chief executive nick Kelsall. (sFl)"
Hardboy
21 Aug 2015
Blue A little spec of blue in my sea of red!
gretel
06 Aug 2015
Director share buying today Good news. The Chairman has been buying shares - £25k is a material sum and a decent vote of confidence, adding another 10% to his stake:[link]
foolish learner
31 Jul 2015
Re: Cheap on a forward P/E of 8.1 high volume with out much upward movement in the price - heres hoping it keeps going north but construction is still in the doldrum
gretel
31 Jul 2015
Cheap on a forward P/E of 8.1 Latest forecasts from Sanlam Securities: - this year : 2.3p EPS, 0.6p dividend - next year : 2.5p EPS, 0.7p dividend
mcescher
30 Jul 2015
Great visual report on Norcros Analysts expect lot of growth left in NXR, 99% next year. Not without risk. [link] What is the opinion here?
Hardboy
23 Jul 2015
Trades High volume today.
II Editor
25 Jun 2015
NEW ARTICLE: Ambitious Norcros worth 50% more "With its eyes set firmly on doubling revenue to £420 million revenue by 2018, Johnson Tiles-owner LSE:NXR:Norcros has just bought bathroom fittings firm Croydex for £21.9 million. It looks like a decent buy, and the shares do look cheap on ..."[link]
Hardboy
25 Jun 2015
Acquisition Interesting purchase. I don't know the company but it sounds like a very much UK focussed business. Currently NXR have about 67% of their business in the UK; and they have a target by 2018 of it being around 50%; so making a purchase which is likely to increase the UK % of their business when their overall ambition is to grow the international side looks intriguing. Still it looks like a profitable business & they got it for a PE of around 8, so it sounds like good business. Come on team - let's get above 20 it's been tantilisingly close for over a year without being reached.
Blanketstacker
22 Jun 2015
Re: Annoying iii website Any joy nk? Problems still persisting here, not least the lack of a working news feed.
casabanker
18 Jun 2015
Re: Finals Hello Hardboy,It seems that pension deficits at Companies are likely to occur in times of low interest rates. They are, of course, a form of debt and can have a significant effect on a company's balance sheet and performance. If the debt/deficit becomes too large, the trustees can insist on bigger contributions from the company and this can represent a threat to dividend payments.Usually deficits of this kind melt away when interest rates rise whenever that happens.Casa.
nk1999
18 Jun 2015
Re: Annoying iii website Thanks BS. I have contacted them as well to report the problem. Waiting to hear back.BTW, my browser is up-to-date as well.nk
Blanketstacker
18 Jun 2015
Re: Annoying iii website I have the same problem. I contatced III but was told there are no longer any faults on the system, and my browser may be out of date. This is not the case. I am thinking of closing my account.
nk1999
18 Jun 2015
Annoying iii website It shows that a RNS has been released (by showing a number in front of "News" on the main portfolio page). But when I click on the News link and go to that page, today's news items are now shown, so I can't see any details.This is happening for last several days and not just for Norcross but many stocks.Anybody else having this problem? I hope iii get their act together soon.nk
