Norcros

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Re: Norcros

Berichtdoor wimilio » 15 Nov 2018 12:06

Inderdaad mooie resultaten in moeilijke marktomstandigheden :clap:



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jens_dev
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Re: Norcros

Berichtdoor jens_dev » 29 Nov 2018 18:15

Interimdividend van £0,028 werd vandaag geknipt.
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Re: Norcros

Berichtdoor wimilio » 29 Nov 2018 19:57

En 5% erbij, strange :think:

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Re: Norcros

Berichtdoor wimilio » 29 Nov 2018 19:58

Oei, verkeerd. SIHL heeft er 5% bij vandaag.

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Umi
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Re: Norcros

Berichtdoor Umi » 13 Dec 2018 21:28

Nog iemand aan het uitkijken om bij te kopen? Ik hoop dat ze nog iets verder doorzakken door de Brexitpaniek :twisted:
(nu 5% vd port)

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Re: Norcros

Berichtdoor Layzie19 » 14 Dec 2018 10:42

Ik ben aan het afwachten. Eerste in de rij om bij te kopen zijn Norcros en Recticel.

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Re: Norcros

Berichtdoor jens_dev » 14 Dec 2018 11:32

Mijn gemiddelde is £1,73 dus nog niet meteen nodig. Weet ook dat het niet eenvoudig is om te kopen aan geafficheerde koersen. Vandaag weer transacties buiten het orderboekje om aan £1,9573. De bied staat op 1,96 (2766st) en de laat op 2,04 (slechts 84 stuks!). Ik denk dat als je nu een marktorder voor pakweg €5K of €10K ingeeft, de koers meteen naar £2,10 schiet.
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Re: Norcros

Berichtdoor jens_dev » 19 Dec 2018 09:28

Gisteren intraday daling naar £1,85. Aan die koers bedraagt het dividendrendement 4,5% bruto. Dit dividend wordt minstens 2,5x gedekt door de winst. Winstrendement > 11%.
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Re: Norcros

Berichtdoor Denjoe » 16 Jan 2019 08:09

16 January 2019





("Norcros", the "Group" or the "Company")



Proposed Acquisition of RAP Plumbing Supplies Proprietary Limited and Trading Update





Norcros, a market leading supplier of high quality and innovative bathroom and kitchen products is pleased to announce that its South African business, Norcros South Africa (Proprietary) Limited has entered into a conditional agreement to acquire 100% of the share capital of South African based RAP Plumbing Supplies (Proprietary) Limited, trading as House of Plumbing ("House of Plumbing"), a private company owned by the directors, a number of other employees and private investors for a total consideration of up to South African Rand ("ZAR") 215m (approximately £12.1m) on a debt and cash free and normalised working capital basis.



The transaction is subject to regulatory approval from The Competition Commission of South Africa. Completion will follow once this approval has been granted to the satisfaction of Norcros. Of the total consideration, ZAR 172m (approximately £9.7m) will be settled in cash on completion and up to a further ZAR 43m (approximately £2.4m) may be payable in two years via an earn out mechanism. The acquisition will be funded entirely from local cash resources and existing facilities. The Board expects the transaction to be earnings enhancing immediately.



House of Plumbing - business



House of Plumbing is a market leading supplier of specialist plumbing materials focused on the specification and commercial segments of the market supplying plumbing contractors, maintenance plumbers, and the public. The business operates from three branches in South Africa located in Johannesburg (which is also where the head office is based), Pretoria and Lephalale.



The business employs 102 people and has an experienced management team led by Managing Director Robin Roberson, all of whom will be staying with the business.



House of Plumbing - financial information



For the year ended 30 April 2018, House of Plumbing's audited financial statements showed revenue of ZAR 392m (approximately £22.1m), EBITDA of ZAR 33m (approximately £1.9m) and profit before tax of ZAR 34m (approximately £1.9m). As at 30 April 2018 the business had gross assets of ZAR 112m (approximately £6.3m). House of Plumbing has continued to trade in line with its management's expectations for the 8 months ended 31 December 2018.



Acquisition details



Subject to regulatory approval, Norcros will acquire 100% of the share capital of House of Plumbing for initial cash consideration of ZAR 172m (approximately £9.7m) plus an earn out of up to ZAR 43m (approximately £2.4m) payable in the year ending 31 March 2022 on achievement of EBITDA and cash targets. Costs associated with this incentive will be treated as an acquisition related cost outside of underlying operating profit.



The upfront cash amount represents 5.2 times the audited EBITDA for the 12 months to 30 April 2018.



Acquisition rationale



The acquisition of House of Plumbing is a further step in the Group's growth strategy to expand its bathroom product portfolio and follows on from a number of very successful acquisitions, most recently that of Merlyn, and the sustained organic growth in South Africa. House of Plumbing offers a range of complementary products and further reinforces the Group's strong positions in the commercial and specification segments of the market and will benefit from the additional distribution channels, procurement experience and strong financial position of the enlarged Group.



Commenting on the acquisition, Nick Kelsall, Group Chief Executive, said "I am excited by the acquisition of House of Plumbing as it will enhance our product offer to the important commercial and specification segments of the South African market where we have been successfully building our business. The acquisition also offers a number of opportunities to drive growth through geographical expansion and through our existing distribution channels. I look forward to working with Robin and his team to further develop and grow the business."



Robin Roberson, Managing Director of House of Plumbing remarked, "We have been impressed by the energy and enthusiasm of the Norcros management and look forward to working with them to capitalise on the many new opportunities that being part of the Norcros Group will bring."



Trading update



The Group has continued to trade in line with the Board's expectations in both the UK and South Africa since the announcement of its interim results on 15 November 2018.



Whilst the market environment remains challenging the Board is confident that our market leading positions, our leading brands and the financial resilience of our diversified business model will continue to drive market outperformance and will enable the Group to make further progress in line with its expectations for the year to 31 March 2019.



The Group will announce a trading update for the year ending 31 March 2019 on 10 April 2019.



This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014





Note: Exchange rate of ZAR/GBP 17.7 has been used in this announcement for acquisition related currency conversions
Searching for value..

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Re: Norcros

Berichtdoor jens_dev » 16 Jan 2019 08:32

Norcros neemt het Zuid-Afrikaanse House of Plumbing over voor £9,7m + max. £2,4m earn-out over 2 jaar. Overname draagt meteen bij tot de winst. Lokaal management blijft aan boord.

House of Plumbing is a market leading supplier of specialist plumbing materials focused on the specification and commercial segments of the market supplying plumbing contractors, maintenance plumbers, and the public. [...] The business employs 102 people and has an experienced management team.

Omzet £22,1m
EBITDA £1,9m
EBT £1,9m (geen I, D&A? :think:)

Norcros geeft verder nog mee dat de resultaten in het VK en in Z-A in lijn blijven met de verwachtingen van de RvB. Beknopte jaarresultaten op 10/4.
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