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.£111.6m
Last close181.00p
High / Low (52 weeks)185.0p / 139.0p
Stock market listingLN
Forecast net debt (£m)16.2
Forecast gearing ratio (%)25
TeamIndustrials
SectorConstruction & Building Materials

Price performance

%1m3m12m
Actual7.16.4731.16
Relative *3.654.9321.25

* % Relative to local index

Other companies in sector Show

Company news

Ambitious Norcros worth 50% more

Thu, 25 Jun 2015 12:56:15 GMT

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Thu, 17 Nov 2016 17:37:30 GMT

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Tue, 14 Jun 2016 11:15:00 GMT

Norcros Expects First Half Revenue 12% Ahead Year-on-Year

Thu, 12 Oct 2017 07:41:15 GMT

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Thu, 04 Jun 2015 08:04:18 GMT

Investment summary

Norcros’s H118 pre close update flagged group revenue and EBIT in line with management’s full year growth expectations. The period end net debt figure – after some exceptional costs – was also where we expected it to be. Both divisions are achieving good revenue growth without much help from their respective markets and profitability should follow. The rating is yet to give credit for the achievement of this self-generated progress.

Last updated on 18/10/2017

Y/E Mar Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 235.9 28.0 18.5 24.7 7.3 5.9
2017A 271.2 31.7 20.8 24.4 7.4 4.3
2018E 289.1 32.9 22.1 25.8 7.0 4.5
2019E 298.1 34.5 23.8 27.5 6.6 4.0

Last updated on 19/09/2017

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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. 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 03/10/2017

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