Norcros

Beleggen in aandelen beurzen Frankfurt DAX, Londen FTSE 100, Parijs CAC40
Gebruikersavatar
Umi
Premiummember
Premiummember
Berichten: 2278
Lid geworden op: 06 Mar 2013 19:06
waarderingen: 1013
Contact:

Re: Norcros

Berichtdoor Umi » 16 Jan 2019 09:01

Overname aan maximaal 6,37x EV/Ebitda (voor synergieën) is niet slecht. Zeker niet als je in het achterhoofd houdt dat SA een groeimarkt zou moeten zijn (toch na 2020 -> +- 4% GDP growth 2020 -2040)
Idd beter focussen op Ebitda dan die EBT lijkt me.
Mannie liked last!



powered by Surfing Waves

Denjoe
Premiummember
Premiummember
Berichten: 89
Lid geworden op: 21 Jun 2016 10:29
Locatie: Vrasene
waarderingen: 41
Contact:

Re: Norcros

Berichtdoor Denjoe » 22 Feb 2019 10:14

Enorm volume vandaag...
Searching for value..

Gebruikersavatar
jens_dev
Forum elite
Forum elite
Berichten: 8123
Lid geworden op: 17 Dec 2012 15:13
waarderingen: 3865
Contact:

Re: Norcros

Berichtdoor jens_dev » 22 Feb 2019 10:17

2 afgesproken transacties off-book aan £1,95, goed voor 0,65% van de uitstaande aandelen.

Time/date of execution Price Currency Volume Trade value* Trade type Trade flags MIC
08:31:40 22-Feb-2019 195.00 GBX 250,000 487,500.00 Off-book LRGS XLON
08:31:31 22-Feb-2019 195.00 GBX 275,000 536,250.00 Off-book LRGS XLON
Never waste a good crisis
https://jensdev.blogspot.com

reteiP
Forum veteraan
Forum veteraan
Berichten: 1432
Lid geworden op: 22 Jan 2014 11:22
waarderingen: 386
Contact:

Re: Norcros

Berichtdoor reteiP » 25 Feb 2019 10:57

bid/ask bijna elke dag aan £1,9 en £2.
Wat een spread :lol:

Gebruikersavatar
jens_dev
Forum elite
Forum elite
Berichten: 8123
Lid geworden op: 17 Dec 2012 15:13
waarderingen: 3865
Contact:

Re: Norcros

Berichtdoor jens_dev » 06 Mar 2019 18:23

Had ze vandaag even op m'n radar voor een extra pakketje.
Bid £1,91 | Ask £1,935.
Sluit doodleuk op £1,86 :|
Never waste a good crisis
https://jensdev.blogspot.com

Denjoe
Premiummember
Premiummember
Berichten: 89
Lid geworden op: 21 Jun 2016 10:29
Locatie: Vrasene
waarderingen: 41
Contact:

Re: Norcros

Berichtdoor Denjoe » 25 Mar 2019 08:13

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


Proposed Acquisition of RAP Plumbing Supplies Proprietary Limited - Update


Norcros, a market leading supplier of high quality and innovative bathroom and kitchen products is pleased to advise that, further to its announcement on 16 January 2019 of the proposed acquisition of South African based RAP Plumbing Supplies (Proprietary) Limited, trading as House of Plumbing ("House of Plumbing"), it has obtained unconditional approval from The Competition Commission of South Africa and that the transaction is expected to complete on 1 April 2019.

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.

Commenting on the news, Nick Kelsall, Group Chief Executive, said "I am delighted that we have been granted timely and unconditional approval by the Competition authorities and can now complete the acquisition of House of Plumbing. The business complements the Group's strong positions and enhances our product offer to the important commercial and specification segments of the South African market where we have been successfully building our business. I look forward to working with Robin and his team to further develop and grow the business."
Searching for value..

Layzie19
Forum actieveling
Forum actieveling
Berichten: 351
Lid geworden op: 08 Jun 2014 13:23
waarderingen: 147
Contact:

Re: Norcros

Berichtdoor Layzie19 » 02 Apr 2019 08:53

Wat met Brexit ? Norcros is voornamelijk actief in het VK zelf en in Zuid-Afrika. Geen onmiddellijke gevolgen zou ik denken. Komt er een interessant instap/bijkoopmoment wanneer het kind met het badwater wordt weggesmeten?

reteiP
Forum veteraan
Forum veteraan
Berichten: 1432
Lid geworden op: 22 Jan 2014 11:22
waarderingen: 386
Contact:

Re: Norcros

Berichtdoor reteiP » 02 Apr 2019 09:02

Layzie19 schreef:Wat met Brexit ? Norcros is voornamelijk actief in het VK zelf en in Zuid-Afrika. Geen onmiddellijke gevolgen zou ik denken. Komt er een interessant instap/bijkoopmoment wanneer het kind met het badwater wordt weggesmeten?

Als de Britten koopkracht verliezen heeft dat wel een effect natuurlijk.

Denjoe
Premiummember
Premiummember
Berichten: 89
Lid geworden op: 21 Jun 2016 10:29
Locatie: Vrasene
waarderingen: 41
Contact:

Trading update

Berichtdoor Denjoe » 10 Apr 2019 08:04

Trading Update



Norcros, a market leading supplier of high quality and innovative bathroom and kitchen products, will announce its preliminary results for the year ended 31 March 2019 on 12 June 2019. In advance of this, the Group is providing the following trading update.





Trading



Group underlying operating profit1 for the year is expected to be in line with the Board's expectations, reflecting a very resilient performance in the context of particularly challenging conditions in our major markets. This will represent the Group's tenth consecutive year of revenue and underlying operating profit growth.



Group revenue for the year is expected to be in the region of £331m (2018: £300.1m), 10.3% higher than the prior year on a reported basis, 11.6% higher on a constant currency basis, and 2.4% higher on a constant currency like for like basis2.




UK revenue was 13.6% higher than the prior year, principally reflecting the full year contribution from Merlyn which has continued to perform strongly since acquisition. The UK performance on a like for like basis2 reflected strong revenue growth of 3.7% in the second half driven by market share gains as new range listings were secured benefiting from access to the Group's extensive customer base and its strong financial position.



Our South African business again delivered strong revenue growth despite a challenging market environment, 7.5% higher than the prior year on a constant currency basis and 3.7% higher on a reported basis, continuing the outperformance of recent years.





Financial position



Net debt at 31 March 2019 is expected to be around £36m (2018: £47.1m), reflecting strong cash generation in the second half of the year.



As previously announced, Norcros completed the acquisition of the South African based business RAP Plumbing Supplies (Proprietary) Limited, trading as House of Plumbing ("House of Plumbing") on 1 April 2019 and will consolidate the financial results of the business from this date.





Nick Kelsall, Group Chief Executive, said:



"The Group expects to deliver its tenth consecutive year of revenue and underlying operating profit growth despite the uncertain economic and political backdrop in our two main markets.



It is particularly pleasing to note the strong performances of Merlyn and Triton as well as the return to profitability of Johnson Tiles UK following the restructuring of the business, as announced in April 2018.



We are also pleased to have recently added the House of Plumbing business to our portfolio as we look to accelerate the growth of our South African business in the important commercial and specification market segments.



Our performance continues to demonstrate the resilience of our Group with its market leading positions, well-established brands, superior product and service offer and strong financial position. Whilst market conditions are likely to remain challenging, the Board is confident that these attributes together with our very focussed strategy will continue to drive market outperformance leading to further progress in the year ahead."
Searching for value..

Gebruikersavatar
jens_dev
Forum elite
Forum elite
Berichten: 8123
Lid geworden op: 17 Dec 2012 15:13
waarderingen: 3865
Contact:

Re: Norcros

Berichtdoor jens_dev » 10 Apr 2019 10:13

Erg sterke 2de jaarhelft van Norcros.

Omzet stijgt tot £331m, procentje hoger dan ik had verwacht. +10,3% reported, like-for-like +2,4% over het hele jaar en +5,1% in H2.
Like-for-like +3,7% in UK in H2 (na een -4,1% in H1) en +7,9% in SA in H2 (+7,1% in H1).

Merlyn en Triton blijven sterk presteren. Johnson Tiles UK draait zoals eerder aangekondigd weer winst.

Nettoschuld circa £36m (£47,1m eind vorig boekjaar) dus vrije kasstroom incl. werkkapitaal zou rond de £20,6m moeten liggen (-47,1 - 6,4 dividend - 2 deferred consideration - 1,1 treasury shares + 36). In die £20,6m zullen ook nog eens voor £1,5-2,0m uitzonderlijke kosten zitten, dus onderliggend zit je al met een vrije kasstroom van £22m+ als het werkkapitaal stabiel is gebleven.

Overname House of Plumbing werd op 1/4 afgerond (eerste dag nieuwe boekjaar), dus nettoschuld zou daarmee op £36m + £9,7m (initial consideration) = £45,7m komen.

Outlook is voorzichtig positief ("will continue to drive market outperformance leading to further progress in the year ahead"), ondanks de onzekere economische en politieke context in hun twee belangrijkste markten.

Volledige resultaten op 12/6.

Waardering blijft zeer aantrekkelijk, met een FCF yield van 12 à 14%. Aandeel wordt amper beloond.
Donnie_Azoff liked last!
Never waste a good crisis
https://jensdev.blogspot.com



Word gratis lid op Beursig.com

Discussieer met duizenden beleggers, profiteer van minder advertenties, ideaal voor smartphone, betere gebruikservaring en abonneer op uw favoriete onderwerpen.

Registreer nu binnen enkele tellen