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.£156.4m
Last close195.00p
High / Low (52 weeks)199.5p / 161.4p
Stock market listingLN
Forecast net debt (£m)53.8
Forecast gearing ratio (%)58
TeamIndustrials
SectorConstruction & Building Materials

Price performance

%1m3m12m
Actual2.62.414.5
Relative *(3.6)6.49.8

* % Relative to local index

Other companies in sector Show

Company news

Norcros (LON:NXR) Given “Buy” Rating at Numis Securities

Wed, 13 Dec 2017 16:07:30 GMT

Ambitious Norcros worth 50% more

Thu, 25 Jun 2015 13:01:37 GMT

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

Thu, 17 Nov 2016 17:37:30 GMT

Is It The Right Time To Buy Norcros plc (LSE:NXR)?

Tue, 07 Nov 2017 11:48:45 GMT

Should You Be Concerned About Norcros plc's (LON:NXR) -42.7% Earnings Decline?

Tue, 26 Dec 2017 08:15:00 GMT

Investment summary

In H118, Norcros delivered improved profitability and made significant organic business investment in each of its two divisions. In November it also completed the earnings-enhancing £60m acquisition of Merlyn, a highly complementary shower screen specialist business and a logical addition to the business portfolio. Taken together, we raised our current year EPS by c 4% and by c 7% and c 9% in the following two years, with dividends nudged up also. Norcros has scheduled a Capital Markets event for 12 April.

Last updated on 06/04/2018

Y/E Mar Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2016A 235.9 28.0 18.5 24.7 7.9 6.4
2017A 271.2 31.7 20.8 24.4 8.0 4.7
2018E 300.9 34.9 23.8 26.7 7.3 6.8
2019E 335.5 42.8 30.9 29.5 6.6 4.3

Last updated on 25/03/2018

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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 06/04/2018

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