Norcros (NXR)

Business description

Norcros is a leading supplier of showers, tiles, taps and related fittings and accessories for bathrooms, washrooms and other commercial environments. It has operations in the UK and South Africa, with some export activity from both countries.

Stock data

Market cap.£105.4m
Last close172.00p
High / Low (52 weeks)197.0p / 138.0p
Stock market listingLN
Forecast net debt (£m)26.8
Forecast gearing ratio (%)98
TeamIndustrials
SectorConstruction & Building Materials

Price performance

%1m3m12m
Actual17.02.1(4.4)
Relative *16.90.0(16.7)

* % Relative to local index

Other companies in sector Show

Company news

Ambitious Norcros worth 50% more

Thu, 25 Jun 2015 12:56:15 GMT

Should you buy small-cap income champions Norcros plc and TT Electronics plc?

Thu, 17 Nov 2016 17:38:32 GMT

5 Of The Safest Dividends Around: Norcros plc, Barratt Developments Plc, Close ...

Thu, 04 Jun 2015 08:04:18 GMT

Are Norcros plc's (LSE:NXR) Interest Costs Too High?

Fri, 17 Mar 2017 16:41:15 GMT

Netcall plc & Norcros plc Are Flying High Today, But Should You Buy Or Sell Them?

Thu, 25 Jun 2015 10:07:30 GMT

Investment summary

An in-line year end update pointed to an improved H2 trading period for UK based operations and good ongoing progress in South Africa. Full details on underlying profit trends will come with the FY17 results but we feel that the business is performing well in its markets and this is not being fully reflected in the company’s valuation.

Last updated on 18/04/2017

Y/E Mar Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2015A 222.1 24.3 14.0 18.0 9.6 6.3
2016A 235.9 28.0 18.5 24.7 7.0 5.6
2017E 266.3 31.4 20.2 24.0 7.2 4.5
2018E 274.4 32.9 21.8 25.7 6.7 3.8

Last updated on 19/04/2017

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Industry outlook

In the UK, the residential new-build sector has rebounded well and there is impetus for this to continue. RMI spending has not recovered at the same rate. Sustained progress in real average incomes and confidence in asset prices would be supportive for RMI recovery also. The South African economy is currently facing a number of challenges; wider distribution of wealth and an emerging middle class should benefit consumer spending over time.

Last updated on 04/04/2017

Key management

Nick Kelsall, CEO
Shaun Smith, CFO

Company address

Ladyfield House
Station Road
Wilmslow
Cheshire
SK9 1BU
United Kingdom
+44 (0)1625 547 700
View website